10/12/2007 - 12:42

Clough appoints Deloitte, takes first step into Vietnam

10/12/2007 - 12:42

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Engineering and construction company Clough Ltd has appointed Deloitte Touche Tohmatsu as its new auditor, replacing PricewaterhouseCoopers.

Clough appoints Deloitte, takes first step into Vietnam

Engineering and construction company Clough Ltd has appointed Deloitte Touche Tohmatsu as its new auditor, replacing PricewaterhouseCoopers.

The appointment was made following a competitive tendering exercise after PwC retired as auditor in accordance with the Corporations Act.

In other announcements today, Clough's Thailand arm has been awarded a US$22m ($25 million) pipelay contract, representing its first venture into the buoyant Vietnam market.

The project involves the transportation, installation and commissioning of two 26km subsea pipelines in the Ca Ngu Vang Field, located about 130km south east of Vung Tau, southern Vietnam.

The Ca Ngu Vang Field is operated by Hoan Vu Joint Operating Company, a joint venture between Petrovietnam Exploration Production Corporation (50%), SOCO (25%) and PTTEP Thailand (25%).

Clough Thailand Limited will use the Java Constructor pipelay barge to perform all pipelay works, retrofit riser and subsea tie-in operations, as well as all associated flooding, pigging and testing. This work will be carried out at a depth of 60 metres.

Following completion of all preparatory works, the offshore phase of the project, which is expected to take 60 days, will be due to commence at the start of April 2008.


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