MARKET TALK: AMEC Well-Placed For Azerbaijan Deal - Shore

13th Jul 2010 07:56

0656 GMT [Dow Jones] AMEC (AMEC.LN) is well placed to deliver a strong performance in the Azerbaijan region, after announcing a five-year deal with BP (BP.LN) to provide project management, engineering and construction management services in the region, says Shore Capital. AMEC has worked with BP in Azerbaijan for 13 years, says Shore. The brokerage says the newsflow on new contract wins, bolt-on acquisitions and performance delivery are likely to remain strong in the medium term and as such, it keeps a buy rating. Shares closed Monday at 871p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 13, 2010 02:56 ET (06:56 GMT)