Subsea capex of US$106bn is forecast for 2008-2012, a two-third increase on 2003-2007, according to Infield Energy

AUSTRALIAN ENGINEERING services provider AusGroup is starting a A$30-million job for installation and pipelay work on a derrick lay barge to be used at Eni’s Blacktip offshore gas field project.

Work commences immediately and is scheduled for completion by the end of January 2009.

AusGroup’s order book yesterday stood at A$282 million, compared to A$296 million as at 25 Aug 2008.

This suggests the Perth-based company had booked as much as A$44 million of revenues in the past two weeks alone, close to half of the A$99.2 million in revenues generated in AusGroup's fourth financial quarter ended 30 June 2008.

The gas field is located in the Bonaparte Gulf, about 250 kilometers southwest of Darwin with the offshore gas gathering system located about 52 meters below sea level.

A wellhead platform jacket, piles and topside currently fabricated at AusGroup’s Kwinana and AMC facilities will be installed.

This is AusGroup’s second marine manning contract and follows its recently completed Montara oilfield project.

From being a construction labor supply provider specializing in services for Australia’s inland oil & gas or mineral ores industry, AusGroup forayed into the offshore construction scene in 2006 when it acquired Cactus Engineering, which makes sub-sea oil production equipment.
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26 Aug 2008 AUSGROUP: Disappointing results but strong optimism for future

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