Clough expands oil and gas focus

Perth-based engineering firm Clough has bolstered its oil and gas focus with a 51 per cent investment in new global subsea and marine engineering firm, Peritus International.

Peritus, which has operations in Perth, London and Houston, provides engineering design and project management services to offshore clients, with a particular focus on difficult and deepwater environments.

Clough said Steve Hindmarsh, based in Perth, will lead the organisation as chief executive and will also be responsible for growth in Asia Pacific in his role as managing director for the region.

The investment in Peritus will not have a material impact on Clough's earnings in the financial year ended 30th June 2010.

"Clough defines itself as an engineering led oil and gas EPC contractor, focused on gas projects and marine construction. Peritus will strengthen Clough's subsea and floating systems engineering capability and is a step in our gradual global expansion," Clough chief executive John Smith said.

"We look forward to supporting the Peritus team as it offers its clients globally an alternative subsea and floating systems engineering choice for major deepwater offshore developments."