Clough Engineering Limited

Infobox Company
company_name = Clough Limited
company_
company_type = Public
foundation = flagicon|AustraliaPerth, Western Australia
location = flagicon|AustraliaPerth, Western Australia
key_people = Mr John Smith
(CEO & Exec. Director)
Mr Richard Harding
(Non Exec. Chairman)
area_served = Worldwide
industry = Engineering, construction and asset support contractor primarily to the upstream Oil & Gas industry, Engineering
revenue = Australian Dollar $256.5 million (December 2007)
net_income = profit Australian Dollar $34 million (December 2007)
num_employees = 4420 (2008)
homepage = [http://www.clough.com.au www.clough.com.au]
footnotes =

[http://www.clough.com.au/ Clough Limited] , listed as [http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=CLO CLOUGH LIMITED] (CLO) on the [http://www.asx.com.au/ Australian Stock Exchange (ASX)] , is an Australian based engineering and construction contractor primarily to the oil and gas industry.

History

Established, in 1919, as the building company J.O.Clough and Son, in Perth. Today, Clough is a global public company with an international projects in engineering, construction, operation and maintenance services focusing on the oil and gas industry.

The organisation's early growth and diversification was spearheaded by the success of a number of landmark civil construction and resource development contracts during the 1950s and 1960s.

The experience gained on major civil engineering and infrastructure contracts associated with Western Australia's iron ore boom of the 1960s and 1970s, prompted Clough to pursue new opportunities overseas. Clough was awarded contracts in the Middle East, Indonesia and Africa and offices were established on Australia's eastern seaboard. The strategic acquisition of the Petrosea Group of Companies in 1984 secured a permanent base for Clough in the South East Asian region.

Onshore and offshore oil and gas developments became a major thrust for the Group in the 1980s and 1990s. A period of rapid growth culminated in 1998 with a successful public listing on the Australian Stock Exchange.

Clough provides turnkey services to the onshore and offshore oil and gas, minerals and infrastructure industries. These capabilities are supported by their skill and demonstrated commitment to international standards of quality and safety.

Logistical strength, technical innovation and a proven track record in remote locations have assisted Clough in building a 4,000-strong workforce that operates throughout Australia, South East Asia, the Sub-Continent, Middle East, the South Pacific and the deepwater offshore provinces of the world.

A significant development in the Company's history was the formation of a strategic alliance with South African engineering, construction and manufacturing group Murray & Roberts Holdings Limited in 2004. Murray & Roberts is now the Company's major shareholder with 49.1%.

The company's strategic direction was reviewed in 2006/07; in early 2007 Clough announced their intention to refocus on their strengths in oil & gas industry. This was followed by actions including the appointment of Mr John Smith as CEO on May 10th 2007, effective as of August 1st. John Smith is the founding CEO of Subsea 7 (2002-2004) and earlier Vice President of Halliburton Subsea, with 30 years of experience in the oil & gas industry. Clough also confirmed in July 2007 that they had agreed on a long term charter of a new subsea operational support vessel. [http://www.clough.com.au/default.asp?V_DOC_ID=845 Clough Ltd] History ]

Oil & Gas

In 2006 the oil and gas business unit accounted for 57% of the Clough group turnover. Key projects included;

-Project management services in Saudi Arabia.
- Clough/AMEC joint venture for Woodside Energy oil assets in Australia.
- Gorgon LNG Project Australia contracted by Chevron Australia (Kellogg Joint Venture)
- Clough Design Centres, Pakistan
- Bayu-Undan Operations & Maintenance, Timor Sea

Minerals

Clough's associated Indonesian company, PT Petrosea, is the centre for the Group's mining operations. Petrosea has offered services in both open cut and underground mining operations for over 30 years, during which the company has serviced major mining developments across the Indonesian Archipelago and more recently in Australia.

Petrosea

Petrosea is the centre of mining operations for Clough, with mining projects centred in Indonesia and Australia. Petrosea has been listed on the Jakarta & Surabaya Stock Exchanges since 1990 and was the first publicly listed Indonesian engineering & construction company in Indonesia.

Petrosea operates both open cut and underground mining operations, offering clients mine services including:
Contract Mining Services, Plant and equipment hire, Mine partnering, Mine planning, Feasibility studies, Concept planning, Equipment selection, Cost studies, Value engineering and management studies, Mineral extraction and processing, Infrastructure development and operation, Site rehabilitation and environmental management.

Petrosea's mining fleet covers a wide range of requirements including large haulage units, matched excavating loading equipment, ancillary support equipment and underground plant.

The company's major shareholder is Clough Limited, through Clough International Singapore Pte Ltd. Other shareholders are Public.

Today, Petrosea employs over 2000 people spread across Indonesia. [http://www.petrosea.com/aboutus/overview.asp PT Petrosea] Company Background ]

Clough Limited Board of Directors

Mr Richard Harding (Non Exec. Chairman)
Mr John Smith (CEO & Exec. Director)
Mr Andrew J Walsh (CFO)
Mr Campbell M Anderson (Independent Director)
Mr Brian C Bruce (Non Exec. Director)
Mr John D Cooper (Non Exec. Director)
Mr Roger Rees (Non Exec. Director)
Mr Ross W Kelly, AM (Independent Director)

References