Clough AMEC Signs Long Term Services Contract With Woodside

Clough Limited and joint venture partner, AMEC plc have signed an Engineering Services Contract (ESC) with Woodside Energy Ltd, of Australia.

In July 2005, Clough AMEC was provisionally selected by Woodside and has now completed the final stage of the selection process by formalising the agreement. Under the agreement, Clough AMEC will perform a three year contract with an option for Woodside to extend the project for a further five years. Work will commence immediately with activity projected to increase to approximately $25 million of revenue per annum by January 2006.

The ESC will encompass all of Woodside's Australian oil assets including the Wanaea Cossack Lambert Hermes, Enfield , Legendre and Laminaria-Corallina fields. Future growth opportunities under this contract may flow from additional Woodside facilities.

Simon High , CEO of Clough's Services Business Unit said, "We are extremely pleased with the award of this contract, as it dovetails with the overall Group strategic direction, which is to generate 50% of our activity from engineering services and alliance style contracts. This long term contract for Woodside is a significant step for the growing Services Business Unit."

"This is yet another opportunity for us to demonstrate our best-in-class service provision, this time to Australia's leading oil and gas company, Woodside Energy," said Neil Bruce, Managing Director of AMEC's Oil and Gas business. "We look forward to delivering value and innovation across their Australian assets, applying our global capability in a way that meets their specific local needs."

The ESC involves supply of project management, engineering services, operational maintenance & planning, process modification and supply chain integration services to Woodside.

Clough AMEC is a 50/50 joint venture between Clough Limited and AMEC plc of the UK. Clough is one of the largest Australian based engineering and construction companies focusing on the oil and gas sector. AMEC plc is an international project management and services company that designs, delivers and supports infrastructure assets for customers worldwide.

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Posted 21/10/05

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