These contracts represent the third and fourth tranche of contracts to be awarded to Clough-Unithai Engineering Ltd (CUEL), a 33 per cent-Clough-owned joint venture company that was set up to execute work from Unocal Thailand.
In October 2000, Clough won the first tranche of three contracts worth $68.4 for the joint venture to undertake all of Unocal Thailand's offshore gas field wellhead and pipeline development work. The second tranche of contracts, worth some $51 million were awarded in April of last year.
The scope of the new works for Unocal Thailand - known as Phase 23 and Phase 24 - includes the engineering, procurement, construction and installation of a total of 13 wellhead platforms and associated subsea pipelines. Phase 23 has already begun while Phase 24 is due to commence shortly.
"We continue to see upside in the potential for more new contracts in the oil and gas sector as oil prices continue to stay above the US$20 mark," said managing director of Clough Limited, Dr Brian Hewitt.
