Kentz joint venture awarded AUS$500m construction project on Barrow Island, Western Australia - 18 June 2009
London, 17 June 2009 – Kentz Corporation Limited (LSE: KENZ), the holding company of the Kentz engineering and construction group, in a joint venture with its Australian partners Decmil Pty Ltd and Thiess Pty Ltd (TDKJV) has been contracted to design and construct a construction village on Barrow Island for Chevron Australia Pty Ltd. The contract value is approximately AUS$500 million.
The work is expected to commence on the island after receipt of all necessary government approvals and following a final investment decision on the Chevron operated Gorgon Project from the Gorgon Joint Venture participants, expected in the second half of 2009.
Kentz CEO Hugh O’Donnell said the facility was expected to accommodate as many as 3,300 construction workers and that all materials for the project will be shipped to the remote island from Dampier in the North West of Australia aboard landing craft transport.
Kentz is providing the overall construction village engineering and design and the supply of all offshore procurement.
Thiess will provide project management, local procurement and construction services for civil and buildings. Decmil will provide project management, local procurement and construction services for mechanical works.
The Gorgon Project is a joint venture between the Australian subsidiaries of Chevron (Operator), ExxonMobil and Shell, to develop the Greater Gorgon gas fields, located between 130km and 200km off the north-west coast of Western Australia. The Greater Gorgon gas fields contain resources of about 40 trillion cubic feet of gas, Australia’s largest-known gas resource.
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About Kentz
Kentz is a global engineering specialist solutions provider, which serves a blue chip client base primarily in the oil and gas, petrochemical and mining and metals sectors. It is listed on the AIM market of the London Stock Exchange (symbol: KENZ). In the year ending December 2008, the company generated revenues of $643.4 million and profit before tax of $40.7 million.
Kentz has over 10,000 employees in 23 countries. Its three main business lines are; specialist engineering, procurement and construction (EPC) services, construction, and technical support services. It has a proven track record of delivering mechanical, electrical, controls and instrumentation engineering, construction and management services in some of the most remote locations on earth.
Kentz was recently awarded the 2008 AIM Award for Best Newcomer.
Please find further information on the Kentz websitewww.kentz.com