AusGroup Snags GWF Work, Looks to Hire 30 Additional Workers
by Quintella Koh
|Tuesday, January 08, 2013
Singapore-listed AusGroup disclosed Monday that it has secured fabrication work with Fugro-TSM for Woodside's Greater Western Flank (GWF) project.
The first phase of the contract, for the fabrication of post metrology subsea spools, will start immediately for a period of 12 months. The work – to be performed at the Australian Marine Complex (AMC) quay side facility in Henderson – is expected to create work for 30 new staff.
Upon completion, the spools will be loaded out at AMC Henderson for marine transportation, offshore the northwest coast of Australia.
Commenting on its contract win, AusGroup's CEO and Managing Director, Laurie Barlow, said: "As AGC continues to support the domestic gas and liquefied natural gas sector, we are pleased to be involved in supplying key infrastructure for the first phase of the Greater Western Shelf Project."
DMG & Partners Securities are also optimistic about AusGroup's contract win. Lee Yue Jer, an analyst with the brokerage, said that following AusGroup's contract win this month, more contracts are expected to follow if its work on this relatively small gig is deemed satisfactory.
The GWF project – costing $2.5 billion – is part of Woodside's expansion of its North West Shelf (NWS) Project. The broader GWF area consists of 16 fields located to the south west of the Goodwyn A (GWA) platform on the north-west coast of Australia.
The GWF Phase 1 Project will develop the Goodwyn GH and Tidepole fields, via a subsea tie-back to the existing Goodwyn A platform and is the next major development for the NSW Project.
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