CLOUGH BLAZES A TRAIL OF GLORY
Pluto LNG Jetty Woodside Energy Ltd, Western Australia
Company initiatives focused on delivery of excellence in project execution, cost efficiency and enhanced productivity have resulted in significant improvements in the performances of all of Clough’s operations.
The Australian-based construction and engineering Group has structured its business to optimise project delivery and growth across its four business lines of Engineering, Capital Projects, Jetties and Near Shore Marine, and Commissioning and Asset Support. This has positioned Clough to capitalise on the boom in Australia’s oil and gas market. In the past year the business has worked on more than 20 major energy and resources contracts across Australia and Papua New Guinea, including major LNG contracts for Chevron’s Gorgon and Wheatstone projects, INPEX’s Ichthys project, Santos’ Gladstone project and QGC’s Queensland Curtis project.
DISPOSAL OF FORGE GROUP
In March 2013, Clough announced the disposal of its 36% investment in Forge Group to Macquarie Capital. Clough CEO Kevin Gallagher said Clough would use the proceeds to deliver shareholder value through strategic acquisitions and capital management.
LAUNCH OF INTERNATIONAL COMMSSIONING BUSINESS
Clough has entered into a joint venture with Coens Energy, a Korean oil and gas manpower and logistics firm servicing the world’s largest fabrication yards, to launch Clough Coens Commissioning and Completions.
Clough Coens will provide highly specialised commissioning and completions services to onshore and offshore oil and gas facilities, including drilling rigs and fabricated process equipment manufactured in Korea and China.
The joint venture will deliver a new and innovative project management and execution service to enable oil and gas facilities to be commissioned in the fabrication yard, before carrying out necessary hook-up and commissioning services in the final project location.
“Following the successful acquisition of e2o and the award of major commissioning projects in Australia, Clough has become the market leader in Australia for hook-up and commissioning services. The Clough Coens joint venture creates an international commissioning service model that can be exported globally, recognising that the vast majority of fabrication yard commissioning opportunities will be in Korea and China,” said Clough CEO Kevin Gallagher.
Clough’s group-wide focus on improving its performance has supported strong growth in profits in 2013.