"We are very happy to have been awarded the renewal at a time when there are increasing levels of activity in the oil and gas sector," said PCH managing director, James Cullen.

"PCH continues to emerge as a major international player in this sector, with our other ongoing projects in the United Arab Emirates and Caspian Sea also operating very well."

Mr Cullen also said that at the conclusion of the two year renewal period he was hopeful that PCH would be further engaged until as far out as late 2007, the likely minimum duration of the UCU Alliance operation.

In 2000, Unocal Thailand, under a strategic alliance framework, established a long-term working relationship with the joint-venture of Clough Thailand and Unithai Shipyard and Engineering.

The integrated construction and management team of the UCU Alliance carries out the design, procurement, fabrication and installation of wellhead platforms, submarine pipelines and offshore faculties for Unocal's fields in the Gulf of Thailand.