APTIM, BWX Technologies awarded $1.4B contract for strategic petroleum reserve

APTIM and joint venture partner BWX Technologies (BWXT) have been awarded a $1.4B contract by the US Department of Energy to manage and operate the Strategic Petroleum Reserve, as well as its associated facilities and systems in Louisiana and Texas. The joint venture, known as Strategic Storage Partners, will assume management and operation of SPR on June 15 for a five-year period with an option for DOE to extend the contract for an additional five years.