October 6, 2008
$ 15 million Ike clean-up contracts for Clough
Hurricane Ike has brought Australia's Clough Limited (ASX:CLO) a further US$15 million work for its vessel, Normand Clipper (on long term charter to Clough from Solstad Offshore ASA) in the Gulf of Mexico.
Clough has secured agreements with Oceaneering International for provision of the Normand Clipper in the role of subsea construction vessel for pipeline repairs for Shell Oil and Taylor Energy.
In addition, Apache Corporation has extended its existing agreement with Clough for the provision of the Normand Clipper immediately following the Oceaneering work.
The Normand Clipper is to continue remediation works for both clients in the Gulf of Mexico in the wake of Hurricane Ike through most of first quarter 2009.
John Smith, Clough's Chief Executive Officer stated: "We are delighted to extend our close working relationship with both Apache Energy and Oceaneering. The additional commitment will see the vessel fully employed until the start of preparation for the Neptune regasification project off Boston with APL."