The CH2M leadership team announced in November 2014 that it had made the decision to explore strategic alternatives for a portion of our oil, gas, and chemicals business, specifically in the Alaska and Sakhalin Island, Russia, markets.
With about 2,400 employees, this business unit is a leading provider of safe, high-quality integrated oilfield support services, including oilfield operations and maintenance services, construction, and other related services. With a significant portfolio of specialized vehicles and equipment, the business unit provides mission-critical support services to its major energy clients, with particular expertise operating in harsh and demanding climates.
“We are concentrating our resources on expanding our engineering, consulting, and program management service capabilities in our core markets of water, environmental, transportation, and energy on a global basis,” said U.S. Managing Director Patrick O’Keefe. “We have proudly served infrastructure clients in Alaska for 50 years, and we will continue to serve a broad range of clients in the state.”
As a company, we intend to further develop our differentiated professional service offerings, though not on capital intensive businesses. The potential sale of this business unit is directly aligned and consistent with our strategic objectives.
“The Alaska and Sakhalin oil and gas business, and its dedicated and experienced workforce, have made significant contributions to the growth and value of our company,” said Rob Berra, Energy Market president. “It is a high-quality, well-run business with long-standing client relationships that we believe has strong future prospects. We intend to explore ‘win-win’ options for our employees and clients, and we remain focused on ensuring that our clients continue to receive the highest quality service.”
Bank of America Merrill Lynch is assisting in exploring strategic alternatives for the business unit.