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CBI Clough JV awarded EPC contract for the PNG LNG project.
December 10, 2009
Perth-based Clough, in joint venture with US contractor CBI, has today secured one of five key contracts, valued at more than $US1 billion, for the PNG liquefied natural gas project.
The CBI Clough JV was awarded the engineering, procurement and construction (EPC) contract for the $US15 billion project's gas conditioning plant.
The joint venture is 65 per cent CBI and 35 per cent Clough.
The partners expect to employ about 1,200 people for the work.
"We are delighted to be given the opportunity to continue to support the PNG LNG project," Clough chief executive John Smith said.
"This is a major undertaking and will require the combined resources and experience of Clough and CBI.
Other contracts awarded today by operator ExxonMobil were Japan's Chiyoda Corp, which will build the 6.6 million tonne per annum LNG facility, and Saipem SPA will construct the offshore pipeline.
French company Spiecapag will build the onshore pipelines and infrastructure while a JV between McConnell Dowell Constructors and Consolidated Contractors Group Offshore will provide support infrastructure.
All contracts are conditional on the finalisation of outstanding financing and offtake arrangements.
Partners in the PNG LNG project are ExxonMobil (33.2 per cent), Oil Search (29 per cent), PNG government (16.6 per cent), Santos (13.5 per cent), Nippon Oil Exploration (4.7 per cent), PNG landowners (2.8 per cent) and Petromin PNG Holdings (0.2 per cent).
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