PCH will start work immediately on the provision of services up to an initial value of $US1 million on the construction of two 14,000 tonne offshore jackets, which BOS is building for the BP-led development of the Azeri-Chirag-Guneshli field.
The Letter of Intent also provides that, subject to finalising miscellaneous contractual matters, a formal contract will be issued covering an extended scope of works, PCH said. The formal contract is expected to have a potential value of approximately $A13 million over a 30-month period.
PCH said today's announcement is a significant as it represents another step forward in its strategy of becoming a major player in the international oil and gas sector.
Today's announcement follows awarding to PCH of a contract in October by US oil and gas contractor J. Ray McDermott Inc in Dubai and various miscellaneous works successfully completed in the Caspian Sea region for both BOS and McDermott in preparation for the main ACG construction project.
The BOS contract is part of the AIOC "Full Field Development" project estimated to cost US$3.4 billion. AIOC is an BP-led international consortium made up of ExxonMobil, Unocal and Itochu.
