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Worleyparsons Limited (ASX:WOR) awarded contract extension by Chevron Australia

Worleyparsons Limited  (ASX: WOR) announced today that it had been awarded a contract extension by Chevron Australia to continue providing services to support Chevron’s assets in Australasia.

According to the announcement, WorleyParsons will “continue to provide brownfield engineering services to support the onshore and offshore Gorgon and Wheatstone LNG assets and the Barrow and Thevenard Islands oil assets in Western Australia”.

WorleyParsons had held the contract for five years and the extension is for a further two years with options for one additional two-year term and one additional one-year term.

The WorleyParsons share price was up 2% at the time of writing.

Worley Parsons is set to benefit from rising oil prices along with top companies Woodside Petroleum Limited (ASX: WPL)Oil Search Limited (ASX: OSH) and Beach Energy Ltd  (ASX: BPT).

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Motley Fool contributor Kevin Gandiya has no position in any of the stocks mentioned.

You can find Kevin on Twitter @KevinGandiya.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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