Monadelphous awarded $680 million contract

Monadelephous have announced today that they have secured a contract with the Ichthys LNG Project.

The construction contract has a value of approximately $680 million, for mechanical works at the Ichthys Project Onshore LNG Facilities in Darwin, Northern Territory.

The agreement has been made with lead contractor JKC Australia LNG Pty Ltd, a joint venture between the japan based JGC and Chiyoda corporations, and Kellogg Brown & Root Pty Ltd.

Monadelphous managing director Rob Velletri said the company is looking forward to working together with JKC and delivering on the contract.

“We are very pleased to be awarded such a significant contract and to be participating on one of Australia’s world-class gas projects,” he said.

Monadelphous announced a trading halt last week, leading up to the announcement of this contract.

Last week Monadelphous posted a 10 per cent rise on first half profits to $87.1 million, from 79.1 million in the first half on 2013.

The company has made a 25.6 per cent decrease in workforce size since 2012.

The Ichthys LNG Project is a world-class project to develop the Ichthys gas and condensate field, discovered in the Browse Basin, approximately 220 kilometres off the north-west coast of Western Australia.

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