Strategic Storage Partners, LLC, a joint venture with BWXT Technical Services Group, Inc. as a partner, has been awarded a U.S. Department of Energy contract to manage and operate the Strategic Petroleum Reserve. The estimated value of the contract is approximately $2.6 billion over a 10-year period.
The contract comprises a five-year base period with an option for the DOE to extend for an additional five years. This significant award positions BWXT's joint venture to safely manage and operate the critical structures and systems of the Strategic Petroleum Reserve.
Assuming management and operation on June 15, 2025, this contract expands BWXT's footprint in technical services for national security infrastructure. It highlights the company's capability to handle large-scale, high-consequence government projects, contributing substantially to its long-term backlog.
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