23/02/2009 - 09:52

Clough wins $116 Montara contract

23/02/2009 - 09:52

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Perth-based Clough has secured a $116 million contract for works at the Montara oil project in the Timor Sea from a Thai company, which less than two months ago bought Coogee Resources.

Clough wins $116 Montara contract

Perth-based Clough has secured a $116 million contract for works at the Montara oil project in the Timor Sea from a Thai company, which less than two months ago bought Coogee Resources.

The contract was awarded by PTTEP Australasia (Ashmore Cartier), a Thai national petroleum exploration and production company that operates more than 40 projects worldwide and employs over 2000 people.

Clough said the contract is for the installation of offshore facilities at Montara with work to start towards the end of the second quarter this year.

First oil production is scheduled for the third quarter this year.

 

 

The announcement is below:

 

Engineering and construction company Clough Limited (ASX:CLO) today announced that it has been awarded a contract by PTTEP Australasia (Ashmore Cartier) Pty Ltd valued at circa AUD$116m for the installation of the offshore facilities for the Montara Field Development.

The project incorporates the Montara, Swift and Skua fields which are located approximately 690km West of Darwin in the Ashmore Cartier permit area of the Timor Sea within the AC/L7 and AC/L8 production licences in 80m of water.

The scope of work is for the transportation and installation of the 750te Montara Wellhead Platform deck, the 285te mooring buoy with nine associated mooring legs, approximately 26km of infield pipelines, and the 100te Swift subsea manifold.

John Smith, Clough's Chief Executive Officer, said: "This is a project well suited to the capabilities of our upgraded Java Constructor and we are delighted to be returning to Australian waters so soon after her extensive upgrade".

The offshore installation campaign is scheduled to start towards the end of the second quarter of 2009, and will keep the Java Constructor engaged on the project, including mobilization and demobilization, for around four months.

 

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