Giovenco Industries Wins $85 Million Contract for Wheatstone LNG Project

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Researched by Industrial Info Resources Australia (Perth, Australia)--Giovenco Industries (Ingleburn, Australia) has won a scaffolding erection services contract on the Wheatstone Liquefied Natural Gas (LNG) project worth $77.17 million (AUD$85 million).

Chevron Corporation's (NYSE:CVX) (San Ramon, California) 8.9 million-metric-tonne-per-day Wheatstone LNG Project has been under construction since 2009, at the Ashburton North Industrial Precinct near Onslow, in Western Australia. Bechtel Corporation (San Francisco, California), the downstream engineering, procurement and construction (EPC) contractor, awarded the contract to Giovenco Industries on November 26.

Giovenco will provide scaffold erection services to support the mechanical installation, painting, insulation and additional site works throughout the construction phase of the project.

Giovenco has a stable position in the Australian construction industry and boasts a list of high-profile past and future clients. Origin Energy, BOC Gases, Queensland Gas Company (an Australian subsidiary of BG Group), Caltex, ExxonMobil and Vopak have chosen Giovenco to perform work on oil & gas capital and maintenance projects.

Last year, Giovenco was selected to assist with the huge Caltex Kurnell Refinery conversion project, after almost 60 years of commitment to Caltex as contractor for maintenance at the refinery. Giovenco also worked on the Pluto LNG project in 2010, performing painting and scaffolding work on the LNG tanks. This contract was awarded to Giovenco by storage tank specialist Chicago, Bridge and Iron (NYSE:CBI) (CB&I) (The Hague, Netherlands).

Chevron is investing $26.32 billion (AUD$29 billion) on development of the Wheatstone LNG project. Chevron predicts $15.43 billion (AUD$17 billion) will feed back into the Australian economy via contracts awarded and goods purchased from Australian companies.

The Wheatstone project equity participants are operator Chevron, along with Apache Corporation (NYSE:APA) (Houston), Kuwait Foreign Petroleum Exploration Company (KUFPEC), Royal Dutch Shell plc (NYSE:RDS.A) (The Hague, Netherlands), Kyushu Electric Power Company (TYO:9508) (Fukuoka, Japan) and PE Wheatstone Proprietary Limited (PEW).

For more information, see August 16, 2012, article - Australia's Caltex to Convert Kurnell Refinery into Fuel Import Terminal.

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