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HOCHTIEF Expands Offshore Business in Asia-Pacific - HOCHTIEF continues to expand in the global offshore market. Leighton subsidiaries John Holland and Thiess have won additional contracts from oil and gas group Chevron on the Wheatstone gas project off the Australian coast - HOCHTIEF.de
HOCHTIEF Expands Offshore Business in Asia-Pacific

 

PRZOOM - /newswire/ - Essen, Nordrhein-Westfalen, Germany, 2011/12/23 - HOCHTIEF continues to expand in the global offshore market. Leighton subsidiaries John Holland and Thiess have won additional contracts from oil and gas group Chevron on the Wheatstone gas project off the Australian coast - HOCHTIEF.de.

   
 
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• John Holland and Thiess win additional contracts on offshore gas project off the Australian coast;
• Leighton launches offshore engineering subsidiary in Malaysia;
• Some EUR 329 million in new contracts for HOCHTIEF Group in total.

John Holland is to erect numerous refinery buildings for EUR 185 million (AUD 240 million) to process gas from the platform 225 kilometers off the coast. The work includes an operations building, laboratory, maintenance center, and a fire station.

Thiess will construct a 1.2-kilometer, 2.5-meter-diameter tunneled crossing under the ocean to link two Chevron gas reserves with the refinery. This contract is for EUR 43 million (AUD 60 million).

Leighton Offshore has established a new subsidiary in Malaysia: Leighton Engineering will support the company with engineering services in all activities in the offshore oil and gas business. The new company starts with a workforce of about 100 and operates out of Kuala Lumpur. It has already secured its first order - a EUR 7.6 million (USD 10 million) contract for engineering and commercial services on the Iraq South Oil Company’s Sealine Project consisting of two offshore platforms off the Iraqi coast.

"This also supports our strategy of exporting our core engineering and construction competencies into the growth markets of Asia and the Middle East. By extending the construction offering of Leighton Offshore with an engineering capability we are able to offer a more integrated solution for the large oil and gas companies who value those services," explained Hamish Tyrwhitt, Chief Executive Officer of Leighton.

"The expansion in the offshore market follows our objective of growth in tomorrow‘s global markets. I consider these to include the energy sector, transportation infrastructure, and shaping major cities. We are highly successful in the offshore business in Europe," adds Dr. Frank Stieler, Chairman of the HOCHTIEF Executive Board.

In Leighton‘s home market of Australia, Group subsidiary Leighton Contractors secured a contract extension at the Dawson Mine in Queensland. The company is to extract coal from the mine for a further twelve months. The contract is worth EUR 93 million (AUD 120 million).

 
 
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Agency / Source: HOCHTIEF AG

 
 

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HOCHTIEF Expands Offshore Business in Asia-Pacific

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HOCHTIEF AG |
Contact: Christian Gerhardus - HOCHTIEF.de 
presse[.]hochtief.de
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any HOCHTIEF AG securities in any jurisdiction including any other companies listed or named in this release.

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