AusGroup Awarded AUD$30 million Offshore Manning Contract

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10 September 2008

AusGroup is pleased to announce the award of an AUD$30 million labour supply contract for the Blacktip Offshore Gas Field Project.

The contract was awarded to AusGroup’s Australian subsidiary, Ausclad Group of Companies Limited ('AGC') by a leading international offshore construction services client and the two will work together on the Blacktip Offshore Gas Field Project.The gasfield is located in the Bonaparte Gulf, about 250 kilometres south-west of Darwin with the offshore gas gathering system located in approximately 52 metres of water.

The scope of work includes providing skilled construction personnel for the execution of installation and pipelay work onboard the client’s derrick lay barge / vessel. This includes installing a wellhead platform jacket, piles and topside which are currently being fabricated by AGC at its Kwinana and AMC facilities. The work is to commence immediately and is scheduled for completion by the end of January 2009.

“This award represents the second marine manning contract for the Group and follows on from the recently completed Montara project.

The Group has now secured contracts for both the fabrication of the offshore production platform and also the offshore construction support associated with the Blacktip project.

Our oil and gas activities have increased in line with the continued buoyant outlook for both offshore and onshore projects”.

Mr John Sheridan, Managing Director of AusGroup Ltd

With this contract award, the order book stands at AUD$282 million.

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