The Perth-based company said work has already commenced under both LOI's, which were issued by McDermott International and Saipem SP and have an estimated base value of around $1.2 million. PCH has secured around $23 million of work through to December 2004 on this development.

"We are now nine months into our existing main contracts and are pleased to be picking up additional work on site," said PCH managing director, James Cullen.

Cullen said that PCH was preparing to tender additional significant work on phase two of the three phase project. "Our goal this year is to continue to deliver on existing contracts and at the same time, extend our order book out to 2006," Cullen added.

PCH established its Caspian operation in 1999 as part of its strategy to become a major player in the international oil and gas service sector.