Mustang, a subsidiary of oilfield support services firm Wood Group, has been awarded engineering and support contracts for the world's biggest semi-submersible production facility.
This enormous processing plant will serve the Ichthys gas field, 200 kilometres (km) off the coast of Western Australia. It will sit in 250 metres of water, weigh 70,000 tonnes and sport a deck of 156 metres by 132 metres.
The idea of the processing plant is for gas to undergo preliminary processing offshore before being exported to onshore processing facilities in Darwin, via an 889km sub-sea pipeline. The gas will then be turned into liquefied natural gas (LNG) and liquefied petroleum gas (LPG).
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The Ichthys project is expected to produce 8.4m tonnes of LNG and 1.6m tonnes of LPG per annum.
"We are thrilled to be participating in this record-setting project," said Steve Knowles, Mustang president. "Our expertise ... is unparalleled and we appreciate the opportunity to demonstrate our capabilities on this challenging design."
Wood Group shares were up 0.3% by 08:30.
BS
