Clough Wins Pipelay Work at Ca Ngu Vang Field Offshore Vietnam

Clough Limited says that its Thailand operation has been awarded a US$22m contract for the transportation, installation and commissioning of two 26km subsea pipelines in the Ca Ngu Vang (CNV) Field, located in Block 9-2, approximately 130km south east of Vung Tau, southern Vietnam. The Ca Ngu Vang Field is operated by Hoan Vu Joint Operating Company (HVJOC), a joint venture between Petrovietnam Exploration Production Corporation (PVEP) (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.

"This project represents Clough Thailand’s first venture into the buoyant Vietnam market. It is the result of much hard work and dedication and we hope the first of many contracts in this area," stated Clough’s Chief Executive Officer John Smith.

Clough's Sattahip Fabrication Yard, also in Thailand, continues to secure module fabrication work in support of the oil and gas industry either as part of major works awarded to Clough or directly to its clients.

Clough's share price has continued to rise since September of this year following renewed focus and confidence in the future.