AusGroup Wins Extension on Shear Keys Contract for Gorgon LNG Project

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Researched by Industrial Info Resources Australia (Perth, Australia)--AusGroup Limited (SGX:AUSG) (Perth, Australia), via Australian subsidiary AGC Industries (AGC), is celebrating another work order from a joint venture between Chicago Bridge & Iron (NYSE:CBI) and Kentz (CKJV). The order is for the fabrication of additional shear keys, which are required for modular LNG plant construction.

AGC won the first award to fabricate and supply shear keys to Chevron's Gorgon project back in September 2011. The total number of shear keys has now reached more than 3,000.

The work that AGC is performing on the Gorgon project has provided jobs for 280 Aussies. AGC is also supplying pipe spools and adjustable pipe supports. The value of these Gorgon contracts has now reached $100.56 million (AUD$110 million). Another AusGroup Limited subsidiary, MAS Australasia, recently won work on Gorgon with a $31.54 million (AUD$34.5 million) scaffolding contract.

AGC has won a number of big contracts in Australia's booming LNG industry, plus contracts in the existing Australian oil and gas industry at operational facilities. Clients include Apache Energy (NYSE:APA) (Houston, Texas), Woodside Energy (ASX:WPL) (Perth Australia) and INPEX Corporation (TYO:1605) (Tokyo, Japan). AGC provides fabrication services in support of North West Shelf Venture maintenance programs onshore at the Karratha Gas Plant and at offshore facilities. AGC provides services to Apache Energy at its Varanus Island Gas Plant and offshore facilities. The work includes sheet metal fabrication, scaffolding and rigging, and mechanical, instrumentation and electrical services. The work on the Ichthys project for INPEX is for insulation works.

AGC's most recent win was a maintenance contract extension valued at about $32.91 million (AUD$36 million). AGC provides Calciner overhaul and maintenance services to Alcoa of Australia Limited (Alcoa) Kwinana, Pinjarra and Wagerup refineries.

For more information, see June 13, 2013, article - AusGroup Thailand Wins Contract on Ichthys LNG Project, and June 20, 2013, article - AusGroup Lands Another Big Aussie LNG Project Contract via Subsidiary.

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