BAM Clough joint venture has received additional letter of intent in Papua New Guinea

7 October 2010 20:03 - BAM International bv

Bunnik, the Netherlands, 7 October 2010 - BAM Clough joint venture has received an additional Letter of Intent from Chiyoda JGC Joint Venture for the fabrication and construction of the topsides for the PNG LNG condensate offloading jetty. The contract for the design and construction of the jetty has been formally signed recently. The second contract is valued at approximately US$53 million, bringing the total value of contracts awarded to BAM Clough for the PNG LNG jetty project to US$308 million.

The topsides will be fabricated and assembled at Clough's Sattahip Fabrication Yard in Thailand. The required precast elements for the jetty will be fabricated at BAM Decorient's facilities in Indonesia. All parts will be transported and installed at the jetty site, twenty kilometres northwest of Port Moresby.

BAM Clough JV is a 50/50 joint venture between BAM International bv (part of the Dutch based Royal BAM Group) and Clough Operations Pty Ltd (a subsidiary of Clough Limited, Australia). Established in 1965, the joint venture has successfully delivered a number of similar projects in that 45 year period.

Further information: A.C. Pronk, 31 (0)30 659 86 21