The $14 million commissioning services contract is the fourth the United Group has secured on the project since fabrication and construction began, taking their total contract value to over $125 million.
The contract involves provision of labour and equipment for the purpose of working with the Kellogg Joint Venture and Woodside commissioning team during the progressive hand over from construction to operation of the facility.
The work will provide checking and preparation for start-up of all mechanical piping and equipment including the flushing of piping; the installation of temporary connections, piping and equipment for pre-commissioning and commissioning; fabrication of temporary piping systems and assistance with commissioning of equipment.
The contracts helped the United Group post a 34% increase in profit to $21.9 million for the year. Shares in the group surged 32 cents on the news, reaching $3.72.
The stock has jumped 36% this year, following on from gains of 5.9% in 2002 and 123.9% in 2001. The boom in net profit appears set to continue as analysts continue to upgrade their earnings forecasts for the next two years.
The second trunkline and fourth LNG Train are part of the A$2.4 billion expansion of North West Shelf Venture facilities that will boost LNG production to nearly 12 million tonnes a year.
The fourth train will have a capacity of 4.2 million tonnes of LNG a year and is more than 75% complete overall. The project is scheduled for completion in mid-2004.
The six equal participants in the North West Shelf Venture are: Woodside Energy Ltd. (operator); BHP Billiton Petroleum (North West Shelf); BP Developments Australia; Chevron Australia; Japan Australia LNG (MIMI); and Shell Development (Australia) Pty Ltd.
