Major contract awarded on the Ichthys LNG Project

AusGroup subsidiary AGC Industries, a leading Australian based construction, maintenance services, and fabrication company to the oil, gas, mining, and industrial sectors has entered into a joint venture with Meisei Industrial Co. of Japan to form AGC Meisei Joint Venture (AMJV). The joint venture has been awarded a $197 million (AUD) contract by JKC Australia LNG P (JKC) on the onshore facilities of the INPEX-operated Ichthys LNG Project, near Darwin, Northern Territory, Australia.

The subcontract scope of work includes painting, surface protection, fireproofing, and insulation works for lead contractor JKC. Work is expected to commence in March 2015 and will continue for 22 months until December 2016. This is the second major contract to be awarded to a subsidiary of AusGroup on the Ichthys Project Onshore LNG Facilities.

The Ichthys LNG Project is a Joint Venture between INPEX group companies, major partner Total, and the Australian subsidiaries of Tokyo Gas, Osaka Gas, Chubu Electric Power, and Toho Gas.

AusGroup CEO and Managing Director, Stuart Kenny, said “We are pleased to be able to continue our relationship with JKC through this AMJV contract. We look forward to bringing a level of knowledge and expertise to the project backed by 70 years of international insulation experience within Meisei and decades of LNG experience providing insulation and painting services within AGC. This is the second time AGC and Meisei have worked together, having previously completed a $100 million contract for an LNG train in Western Australia between 2002-2004.”

“This contract underpins AusGroup’s progress towards strengthening its order book as an established service provider to offer a range of skills to the oil and gas sector in an otherwise challenging and changing market. The contract and the proposed acquisition of Ezion Offshore Logistics Hub (Tiwi) and Teras Australia Pty Ltd will enable AusGroup to integrate marine base support and secure further opportunities in the burgeoning oil & gas sector in Northern Australia region.”

With the award of this contract, AusGroup’s order book now stands at $480 million

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