Engineering and Project Services company Clough Limited announced the signing of a Memorandum of Understanding (MOU) with Coens Energy, a Korean oil and gas manpower and logistics firm servicing the world’s largest fabrication yards.
The parties have agreed to launch Clough Coens Commissioning and Completions (Clough Coens), an incorporated joint venture that will provide highly specialised commissioning and completions services to onshore and offshore oil and gas facilities, including drilling rigs and fabricated process equipment manufactured in Korea and China.
Clough Coens will deliver a new and innovative project management and execution service to enable oil and gas facilities to be commissioned in the fabrication yard, before carrying out necessary hook up and commissioning services in the final project location. As part of the service Clough Coens can work as an integrated team with the operator or the fabrication contractor, to ensure commissioning procedures are developed in line with client operating requirements.
The Joint Venture combines Clough’s project management capability, commissioning systems and commissioning project execution expertise with Coens’ skilled local workforce, training and development expertise, local infrastructure and project execution knowledge in the Asian market place.
With access to a local and international talent pool of over 6000 technical and trades commissioning personnel, Clough Coens can rapidly mobilise teams of specialised commissioning personnel onto projects. In addition, Coens has strong relationships with key Asian fabrication yards and major oil and gas operators, and currently supplies manpower services to the three largest oil and gas fabrication yards in the world: Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering, and Samsung Heavy Industries.
“Following the successful acquisition of e2o and the award of major commissioning projects in Australia, Clough has become the market leader in Australia for hook-up and commissioning services. The Clough Coens Joint Venture creates an international commissioning service model that can be exported globally, recognising that the vast majority of fabrication yard commissioning opportunities will be in Korea and China.” said Clough CEO Kevin Gallagher.
“The traditional commissioning model sees our major clients use EPCIC contractors to commission the same project they have constructed, often leaving clients managing a significant conflict of interest with their primary contractors. Clough Coens will offer an attractive alternative to this model through the provision of an independent and specialised commissioning service performed at the fabrication site and subsequently at the project site. Having spent many years in an operating capacity I believe this will benefit the client by allowing the fabrication contractor to focus on mechanical completion milestones, while having a dedicated team focussed on planning and executing hook-up and commissioning activities.” Mr Gallagher added.
David Park, CEO of COENS added “Through this joint initiative we hope to provide our clients with a highly specialised and comprehensive service, to complement their project efficiently and effectively, shortening commissioning and completion times through effective management and our highly experienced technical consultants, while also promoting safe and ethical practices.”
Clough Coens will be formally incorporated subject to approval by the Korean Fair Trade Commission. The company interests are expected to be Clough 55% and Coens 45%.
For further information, please contact:
Kristy McGrath, Marketing & Communications Manager +61 8 9281 9344