Clough Wins Subsea Contract from Unocal Thailand

Through its strategic alliance with Unocal Thailand, Ltd., and Unithai Shipyard and Engineering Limited, the Clough Group has been awarded its next contract to design and build wellhead platforms and subsea pipelines for Unocal Thailand in the Gulf of Thailand.

The contract has been awarded to Clough-Unithai Engineering Limited (CUEL), the thirty-three percent (33%) Clough-owned joint venture company set up to execute the Unocal Thailand work.

In October 2000, Clough was awarded its first tranche of three contracts worth US$35 million under an evergreen contract (announced in July 2000) for the joint venture to undertake all Unocal Thailand offshore gas field wellhead and pipeline development work in the Gulf of Thailand. The second and third tranche of contracts were worth US$69 million.

The scope of the new works for Unocal Thailand, known as Phase 25, includes the procurement, construction and installation of a total of three generic design wellhead platforms and associated intra-field subsea pipelines.

"We continue to have optimism for more new contracts in the oil and gas sector as oil prices stay above the US$20 mark," Dr Brian Hewitt, Managing Director of Clough Limited, said.

Under the "UCU Alliance", Clough Thailand and leading local fabrication company Unithai Shipyard and Engineering Ltd formed a joint venture, Clough-Unithai Engineering Limited (CUEL), to construct and install wellhead platforms and submarine pipelines for Unocal Thailand's extensive Gulf of Thailand operations.