PERTH, Australia– Clough has signed a memorandum of understanding with Coens Energy to launch a joint venture to provide specialized commissioning and completions services to facilities manufactured in South Korea and China.
Coens Energy is an oil and gas manpower and logistics firm that works with yards including Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering, and Samsung Heavy Industries.
The new venture, Clough Coens Commissioning and Completions, Clough says will deliver an innovative project management and execution service that enables oil and gas facilities to be commissioned in the fabrication yard, prior to conducting hook up and commissioning services at the final project location.
Clough Coens will offer to work as an integrated team with the operator or fabrication contractor, to ensure commissioning procedures are in line with client operating requirements.
The joint venture will have access to more than 6,000 technical and trades commissioning personnel, and will be able to mobilize specialist commissioning teams swiftly to projects.
Clough Coens will be formally incorporated subject to approval by the Korean Fair Trade Commission, with Clough expecting to hold a 55% interest and Coens 45%.