North American Energy Partners Announces $127 Million Oil Sands Contract

North American Energy Partners NOA today announced it has been awarded a $127 million heavy civil construction contract with Fluor Canada Limited at Syncrude Canada Ltd's (Syncrude) Base Mine and provided an update on the progress of discussions with Canadian Natural Resources Limited (Canadian Natural). The new contract at Syncrude is the first of several large construction contracts to be let relating to the mine train relocations(1) at Syncrude's Base and Aurora Mines. NAEP completed the preliminary earthworks related to this project in the spring of 2011. This new contract represents a significant increase in the Company's work-scope on this site through to August 2012 and covers the construction of roads, grading and civil works for the shear key foundation at Syncrude's Base Mine. The foundation will provide the base for construction of the second phase of the project, a mechanically stabilized earth (MSE) wall and ore crushing facility, construction of which is expected to be undertaken in the summer of 2012 under a separate contract yet to be awarded.