AusGroup’s subsidiary AGC Industries has been awarded a “significant” maintenance master contract by Chevron Australia.

While AusGroup did not reveal the value of the contract, the group disclosed that it has increased its order book to over A$1 billion ($1.04 billion).

The contract is a ten-year master contract that enables Chevron Australia to order full-service asset maintenance from AGC across Chevron’s onshore and offshore natural gas and oil production facilities located in the north-west of Australia.

The contract is the longest maintenance master contract currently in the Australian oil and gas market.

SEE:AusGroup awarded 5-year maintenance contract by Esso (Thailand)

The contract will see AGC deliver a diverse and complete range of services including management, planning, scheduling and supervision; painting insulation and fireproofing, and more.

AusGroup CEO and managing director Shane Kimpton says “the award is a testament to the organisation’s track record in safely and efficiently delivering contracts. “This contract is a substantial achievement for AusGroup and confirms our proven track-record, integrity, ability and financial capacity to deliver certainty of outcome which has been central to our performance over the years. “Furthermore, this contract represents a significant strategic milestone for our business, firmly positioning us as a leader and Tier 1 contractor in end-to-end asset maintenance program delivery for oil and gas assets,” he adds.

AGC confirmed a significant number of new roles would be required to service orders under the contract with recruitment to commence in coming weeks.

Kimpton says the group is looking to recruit 300 to 500 new planning and execution staff positions during the life of the contract.

Shares in AusGroup closed 0.2 cent higher or 6.5% up at 3.3 cents on March 22.