Clough CEO & managing director David Singleton said India was one of the top four countries in Asia for projected domestic energy demand growth and the company had developed considerable experience in oil and gas projects throughout the subcontinent over the past five years.

“We have identified some US$4 billion in offshore oil and gas projects in India over the next four years and are confident there willbe many opportunities for the Clough group for further new work,” Singleton said.

The company previously announced receiving a letter of intent to award the contract. Internal compliance processes have now been completed and contracts signed by both parties, confirming the go ahead for Clough’s work on the energy project.

Clough will start work immediately on the engineering, procurement, installation and commissioning of three wellhead platforms and modifications to existing platforms and inter-field pipelines. Project completion is expected in 2006.

Confirmation of the contract follows the announcement last month that Clough had been awarded a US$215 million (A$280 million) contract by India’s Oil and Natural Gas Corporation (ONGC) for the first development of a deepwater oil and gas field lease in the Bay of Bengal off the country’s east coast – the largest offshore contract ever awarded to Clough.

Clough said the latest contract confirmed the value of the group’s strategy to set up regional centres to support the strategic business plan.

Clough has a dedicated team working in Mumbai. This team has been upgraded to a fully operational regional office with a general manager relocated to India earlier this month, said Clough CEO & managing director David Singleton.

“This latest project award takes the Clough group’s work-in-hand in excess of A$900 million,” Singleton said

“It is now back up to a healthy level, which we can comfortably handle to deliver sound margins from good quality contracts.”