Amec Foster Wheeler surges on US Air Force contract win

Shares in Amec Foster Wheeler surged on Friday after the oilfield services firm said it has secured a seven-year contract with the US Air Force.

The FTSE 250 company said it has been awarded prime contractor position on the Air Force Civil Engineer Center (AFCEC) Architect-Engineering (A-E) 2013 environmental services contract.

The new indefinite-delivery/indefinite-quantity contract is for the full range of A-E 2013 environmental services and covers the management and execution of design, and oversight primarily for environmental projects.

Amec said the contract has an aggregate maximum value of $500m (£353m) for the eight awardees and is expected to reach completion by 2023.

Simon Naylor, group president of Amec’s Americas business said: "We are pleased to have been selected by AFCEC once again.

“As a trusted partner we continue to support them in the execution of their important environmental work, bringing together our global expertise to deliver services safely, efficiently and sustainably."

At 1215 GMT, Amec shares were up 7.3% to 466p.