Clough Wins A$80 Million Contract from Unocal
Through its strategic alliance with Unocal Thailand, Ltd. and Unithai Shipyard and Engineering Limited, the Clough Group has been awarded its third and fourth tranche of contracts to design and build wellhead platforms and subsea pipelines for Unocal Thailand in the Gulf of Thailand.
In October 2000, Clough was awarded its first tranche of three contracts worth A$68.4 million under an evergreen contract for the joint venture to undertake all Unocal Thailand offshore gas field wellhead and pipeline development work in the Gulf of Thailand. The second tranche of contracts in April 2001 was worth A$51 million.
The scope of the new works for Unocal Thailand, known as Phase 23 – which has commenced – and Phase 24 – which is to commence immediately – includes the engineering, procurement, construction and installation of a total of 13 wellhead platforms and associated subsea pipelines. "We continue to see upside in the potential for more new contracts in the oil and gas sector as oil prices continue to stay above the US$20 mark," Dr Brian Hewitt, Managing Director of Clough Limited, said.