CUEL was awarded module fabrication contract for multiple packages on the lchthys LNG Facilities from JKC JV

General Press Releases Friday March 30, 2012 13:47
Bangkok--30 Mar--CUEL

CUEL Limited, a Thailand-based EPCI contractor for international oil and gas companies, signed its first LNG Module fabrication contract with the JKC Ichthys LNG Joint Venture (JGC Corporation, KBR, Chiyoda Corporation) in support of the INPEX-operated Ichthys LNG Project in Australia. The contract was awarded after JKC JV received from the Ichthys joint venture the prime contract for engineering, procurement and construction (EPC) on the Ichthys LNG project.

The contract value is approximately US$300 million, covering the fabrication of approximately 40,000 tons of modules for the onshore LNG facilities over a three year period. CUEL’s scope of services includes engineering, procurement, fabrication, pre-commissioning and load out. Fabrication should commence in early 2013 at CUEL’s world class fabrication yard at Laem Chabang, Chonburi, Thailand. Completed pre-assembled modules and units will be transported directly from CUEL’s load-out facilities to Blaydin Point at Darwin, Australia.

The Ichthys LNG Project is a joint venture between INPEX (76%, the operator) and Total (24%). Gas from the Ichthys Field, in the Browse Basin approximately 200 kilometres offshore of Western Australia, will undergo preliminary processing offshore to remove water and extract condensate. The gas will then be exported to onshore processing facilities in Darwin via an 889km subsea pipeline. The Ichthys LNG Project is expected to produce 8.4 million tonnes of LNG and 1.6 million tonnes of LPG per annum, along with approximately 100,000 barrels of condensate per day at peak.

The signing of this contract reflects CUEL’s strong efforts and interest in providing EPC services for the Australian LNG market. Dr. Chanwut Nitikitpaiboon, Managing Director of CUEL, said: “I am very pleased to enter into this agreement with JKC, which is the result of current CUEL’s strategy to increase its exposure in this fast growing market. We are committed to work together with JKC to execute the project professionally. With the unique combination of our resources and decade-plus of experience in offshore facilities fabrication for national and international oil and gas companies, we are confident we can help JKC to achieve its objective – a project executed safely, meeting the highest quality standards, and delivered on schedule and budget."

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