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ASX Company News: Clough Secures $75 million Engineering Contract

Wednesday, November 28th, 2012

Engineering and project services company Clough Limited (CLO) announced that the Clough Curtain Joint Venture has received work orders worth approximately A$75 million associated with the PNG LNG Upstream Infrastructure contract.

The PNG LNG Project is an integrated development that includes gas production and processing facilities, onshore and offshore pipelines and liquefaction facilities. Participating interests are affiliates of Exxon Mobil Corporation (including Esso Highlands Limited as operator, 33.2 per cent), Oil Search Limited (29.0 per cent), National Petroleum Company of PNG (PNG Government, 16.6 per cent), Santos Limited (13.5 per cent), JX Nippon Oil &Gas Exploration (4.7 per cent), Mineral Resources Development Company (PNG landowners, 2.8 per cent) and Petromin PNG Holdings Limited (0.2 per cent).

Clough is an engineering and project services contractor servicing the Energy & Chemical and Mining & Mineral markets in Australia and Papua New Guinea.

www.clough.com.au

Tags: CLO, Clough, Engineering Services, lng plant
Posted in ASX Company News | No Comments

ASX Company News: Clough Awarded Pearl Oil Construction Project

Friday, September 14th, 2012

Engineering and project services company Clough Limited (CLO) announced the award of a contract valued at approximately US$60M with Pearl Oil (Amata) Limited, a Mubadala Petroleum affiliate. The contract work will be executed in consortium with TL Offshore SDN Berhad, an installation and transportation specialist that operates as a subsidiary of SapuraCrest Petroleum Berhad. The project is estimated to generate US$35M revenue for Clough during a 14 month period. The scope of work will consist of procurement of equipment and bulk materials, fabrication of the Wellhead Processing Platform, transportation, installation and hook-up of the Wellhead Platform and two 2km pipelines in the Manora oil field, which lies in 44m of water approximately 80kms from the coast of Thailand.

Clough CEO, Kevin Gallagher said “We are pleased to add another oil and gas project to our portfolio with the award of the Manora oil field work. We look forward to working with our new client Mubadala Petroleum, to deliver the best possible outcomes for this important project.” Work on the project will commence in September 2012 with completion of Clough’s scope of work anticipated in September 2013. Pearl Oil (Amata) Limited is the operator of the Manora oil field in the G1/48 concession. First oil production is expected in 2014, with an expected production peak of 15,000 barrels of oil a day (bopd).

Clough is an engineering and project services contractor servicing the Energy & Chemical and Mining & Mineral markets in Australia and Papua New Guinea. Since 1919 Clough’s dedication to project execution excellence has been the foundation of the company’s success. Today Clough people design, construct, commission and maintain leading-edge facilities for the world’s largest energy and resources companies. Backed by an experienced management team, approximately 4800 personnel and sophisticated project management systems, Clough is recognised for a commitment to safety, sustainable development and the wellbeing of the people, communities and environments in which it operates.

www.clough.com.au

Tags: CLO, Clough, Construction Services, Engineering Services, Pearl Oil and Gas
Posted in ASX Company News | No Comments

Dividends: Clough Ex Dividend On 7/9/2012

Tuesday, August 28th, 2012

Clough Limited (CLO) will go ex dividend on 7/9/2012. The current dividend payment is 2.6 cents and it is 25% franked. The record date is 13/9/2012 and the dividend will be paid on 5/10/2012. Based on the full year payment the dividend yield is 3.5%.

*Current Yield: 3.5% Franking: 25% DRP Discount: Not Available

*Yield has been calculated on the closing price on the 24/8/2012. Current yield is based on the current dividend payment only.

Tags: CLO, Clough, Dividends, Ex Dividend
Posted in Upcoming Dividends | No Comments

ASX Company News: Clough Awarded Chevron Offshore Contract

Thursday, April 12th, 2012

Engineering and construction company Clough Limited (CLO) announced that the Clough AMEC joint venture has been awarded a contract valued in excess of A$30 million for the Operability, Reliability and Maintainability (ORM) component of the Chevron-operated Wheatstone Project offshore facilities. Work will be performed by Clough AMEC, with support from its specialist Performance Improvement (PI) division. The scope of work involves building the maintenance database, assuring operational readiness for the offshore facilities (including writing of all operations procedures), all training and development programmes, operations engineering and support services. Work will commence immediately and will last approximately 3.5 years. At peak the project will employ over 50 people based in Perth.

Clough’s Chief Executive Officer Kevin Gallagher said this was an important win for Clough AMEC. “As the project moves from the construction to operations phase, this is a strategically important contract which represents further growth in our Commissioning and Asset Support business, which was awarded the Wheatstone Hook-up and Commissioning contract earlier in the year. We will work with our long- term strategic partner AMEC to assure operational readiness for this important Australian project and our valued client Chevron.”

Established in 1919, Clough delivers an integrated engineering, construction and asset support service to energy and resources projects in Australia, Papua New Guinea and South East Asia. The Group’s services range from concept development through design, construction, installation, commissioning, operations and maintenance. AMEC is a focused supplier of consultancy, engineering and project management services to its customers in the world’s oil and gas, minerals and metals, clean energy, environment and infrastructure markets. With annual revenues of some £3.3 billion, AMEC designs, delivers and maintains strategic and complex assets and employs over 27,000 people in around 40 countries worldwide.

www.clough.com.au

Tags: CLO, Clough, Engineering Services, Oil and Gas
Posted in ASX Company News | No Comments

ASX Company News: Clough Secures Two New Engineering Contracts

Monday, March 26th, 2012

Engineering and construction company Clough Limited (CLO) announced the execution of two binding contracts between JGC Corporation, KBR and Chiyoda Corporation joint venture (JKC JV) and BAM Clough joint venture for the design and construction of the Ichthys LNG Project Module Offloading Facility (MOF) and the Ichthys Product Loading Jetty. The combined value of the contracts is approximately A$510 million.

Established in 1919, Clough delivers an integrated engineering, construction and asset support service to energy and resources projects in Australia, Papua New Guinea and South East Asia. The Group’s services range from concept development through design, construction, installation, commissioning, operations and maintenance. BAM International brings the construction and construction-related services of the Dutch based Royal BAM Group to Africa, Australia, the Middle East and Gulf States, Asia Pacific and the Americas. These services include general building, marine works, infrastructural and industrial projects. BAM has a long history of bringing innovative solutions to complex situations and of responding to challenging circumstances with great flexibility and high levels of quality and safety.

www.clough.com.au

Tags: CLO, Clough, Construction, Engineering Services, Oil and Gas
Posted in ASX Company News | No Comments

ASX Company News: Clough Secures Wheatstone LNG Jetty Construction Contract

Friday, February 10th, 2012

Engineering and construction company Clough Limited (CLO) announced that the BAM Clough Joint Venture has been awarded a contract by international oil and gas service company Bechtel, for the design and construction of the Chevron-operated Wheatstone Project LNG product loading facility and tug berths near Onslow, Western Australia. The contract is valued at approximately A$400 million.

The scope of work includes the design and construction of a 1.2 kilometre jetty with operations platform, a product loading platform with a single LNG and condensate load out berth, and associated piping modules and piping installation. At peak, the contract will result in approximately 200 jobs, the majority of them in Australia. This includes 15 in the Pilbara region, 90 in Western Australia and 30 elsewhere in Australia. Engineering, procurement and planning work for the project will commence in February 2012 with construction activities on site scheduled to start third quarter 2013. The project is scheduled for completion in fourth quarter 2016.

Clough’s Chief Executive Officer Kevin Gallagher said “This contract represents significant growth for our near shore marine construction business, which was established with long-term partner BAM in 1964. Forty-eight years later we are still fully committed to this business. With major LNG and minerals projects requiring load out jetties and near shore marine infrastructure, we are seeing more near-term opportunities relating to the Australian resources boom than ever before”.

www.clough.com.au

http://www.traderdealer.com.au/Fundamentals/clo

Tags: CLO, Clough, Construction, Engineering Services, Wheatstone LNG Project
Posted in ASX Company News | No Comments

ASX Company News: Clough Secures $140 million LNG Project Contract

Wednesday, February 8th, 2012

Engineering and construction company Clough Limited (CLO) announced that the BAM Clough Joint Venture has received a Letter of Intent (LOI) from JGC Corporation, KBR and Chiyoda Corporation joint venture (JKC JV) for a contract valued at $A140 million. The scope of work involves the design and construction of the Ichthys LNG Project Module Offloading Facility (MOF) near Darwin, Northern Territory. The MOF will be constructed as part of the INPEX-operated Ichthys LNG facility being developed in Darwin. It is a key facility that will be used to offload modules being supplied under other subcontracts to assemble the LNG liquefaction plant. Under this LOI, expenditure is limited for BAM Clough to the commencement of engineering, procurement and planning work for the project. Construction activities for the MOF are scheduled to commence in early 2013 with MOF project completion anticipated in early 2014. At peak the MOF project will employ a workforce of 130.

Clough’s Chief Executive Officer Kevin Gallagher said “This award represents further growth in our near shore marine construction business, delivered through our long- term joint venture BAM Clough. We are delighted to further strengthen our relationship with valued partner BAM, and are excited at the prospect of delivering excellent project outcomes for the JKC JV and ultimate client INPEX.”

Established in 1919, Clough delivers an integrated Engineering, Procurement and Construction service to oil and gas and mineral resources projects primarily in Australia and South East Asia. The Group’s services range from concept development through design, construction, installation, commissioning, operations and maintenance. BAM International brings the construction and construction-related services of the Dutch based Royal BAM Group to Africa, Australia, the Middle East and Gulf States, Asia Pacific and the Americas. These services include general building, marine works, infrastructural and industrial projects.

www.clough.com.au

http://www.traderdealer.com.au/fundamentals/clo

Tags: acquisition, CLO, Clough, Engineering Services, LNG Project
Posted in ASX Company News | No Comments

ASX Company News: Clough Secures $145 million Of Contracts For PNG LNG Train

Monday, January 30th, 2012

Engineering and construction company Clough Limited (CLO) announced that the Clough Curtain Joint Venture (CCJV) has received work orders worth approximately A$145 million associated with the PNG LNG Upstream Infrastructure contract. The PNG LNG Project is an integrated development that includes gas production and processing facilities, onshore and offshore pipelines and liquefaction facilities. Participating interests are affiliates of Exxon Mobil Corporation (including Esso Highlands Limited as operator, 33.2 percent), Oil Search Limited (29.0 percent), National Petroleum Company PNG (PNG Government, 16.6 percent), Santos Limited (13.5 percent), Nippon Oil Exploration (4.7 percent), Mineral Resources Development Company (PNG landowners, 2.8 percent) and Petromin PNG Holdings Limited (0.2 percent).

www.clough.com.au

http://www.traderdealer.com.au/fundamentals/clo

Tags: CLO, Clough, Engineering Services, exxon mobil, New contracts, Oil and Gas, PNG LNG
Posted in ASX Company News | No Comments

ASX Company News: Clough Awarded Contract Extension By ConocoPhilips

Thursday, October 20th, 2011

Engineering and construction company Clough Limited (CLO) announced that Clough AMEC has been awarded a two year contract extension by ConocoPhillips to provide operations and maintenance services to the Bayu-Undan facilities located in the Timor Sea. The contract extension has an estimated value of AU$100 million.

Clough AMEC is an incorporated joint venture established to provide engineering, operations and maintenance services to clients in the Australasian hydrocarbons industry. The joint venture has provided operations and maintenance services to the Bayu-Undan facilities since July 2004.

“We are delighted to continue our long-term relationship with valued client ConocoPhillips on this important contract” said John Smith, Clough CEO. “Clough AMEC has a long history of supporting ConocoPhillips on Bayu Undan and this award reinforces the strength of our relationship and our commitment to the successful operation of this facility” said AMEC Director Australia and South EastAsia, Steve Ciccone

Established in 1919, Clough delivers an integrated Engineering, Procurement and Construction service to oil and gas and minerals projects in Australia and South East Asia. The Group’s services range from concept development through design, construction, installation, commissioning, operations and maintenance.

AMEC is a focused supplier of consultancy, engineering and project management services to its customers in the world’s oil and gas, minerals and metals, clean energy, environment and infrastructure markets. With annual revenues of around £3 billion, AMEC designs, delivers and maintains strategic and complex assets and employs more than 27,000 people in around 40 countries worldwide.

www.clough.com.au

http://www.traderdealer.com.au/fundamentals/clo

Tags: CLO, Clough, Conoco Phillips, engineering, Oil and Gas
Posted in ASX Company News | No Comments

ASX Company News: Clough and Downer Awarded Engineering Contract

Friday, August 26th, 2011

Engineering and construction company Clough Limited (CLO) announced that the Downer Clough Joint Venture (DCJV) has been awarded an Early Contractor Involvement (ECI) contract by CSBP Limited for the Ammonium Nitrate/Nitric Acid Plant Number 3 (NAAN3). DCJV is a 50:50 joint venture between Clough and engineering and infrastructure management services group, Downer EDI Limited. The scope of work for the ECI phase involves a detailed review of current engineering and procurement documentation in collaboration with CSBP, to establish an execution plan and budget for the Engineering, Procurement and Construction (EPC) phase of the NAAN3 project which forms part of CSBP’s wider ammonium nitrate expansion proposed for its site in Kwinana, Western Australia.

“Clough has a long history with the Kwinana strip and is pleased to be returning to assist CSBP with the NAAN3 project. Successful completion of the ECI phase of this project will position Downer Clough for the EPC phase, which has an initial estimated value of approximately $200 million. We will work closely with our valued partner Downer to bring the best Australian engineering and project management resources to this important project” said Clough’s Chief Executive Officer John Smith.

Established in 1919, Clough delivers an integrated Engineering, Procurement and Construction service primarily to oil and gas projects in Australia, South East Asia and the USA. The Group’s services range from concept development through design, construction, installation, commissioning, operations and maintenance. Downer EDI Limited provides comprehensive engineering and infrastructure management services to the public and private Minerals & Metals, Oil & Gas, Power, Transport Infrastructure, Communications, Water and Property sectors across Australia, New Zealand, the Asia Pacific region and the United Kingdom. CSBP Limited is a major manufacturer and supplier of chemicals, fertilisers and related services. CSBP Limited is a subsidiary of Wesfarmers Limited and part of the Wesfarmers Chemicals, Energy & Fertilisers division.

www.clough.com.au

http://www.traderdealer.com.au/fundamentals/clo

www.downergroup.com

http://www.traderdealer.com.au/fundamentals/dow

Tags: CLO, Clough, Dow, Downer, Engineering Services
Posted in ASX Company News | No Comments