Shawcor Announces Receipt of Notice to Proceed for Scarborough Project Trunkline Coating
17 December 2021 - 11:11PM
Shawcor Ltd. (TSX: SCL) today announced that its pipe coating
division has received a formal notice to proceed from SAIPEM
AUSTRALIA PTY LTD for the Scarborough Project, located offshore in
Australia’s north-west.
The Scarborough gas resource is located in the
Carnarvon Basin, approximately 375 km west-north-west of the Burrup
Peninsula in Western Australia. The Scarborough gas resource will
be developed through new offshore facilities connected by an
approximately 430 km pipeline to a proposed second LNG train (Pluto
Train 2) at the existing Pluto LNG onshore facility.
The Scarborough reservoir contains only ~0.1%
carbon dioxide, and together with the adoption of highly efficient
and proven technology in design at Pluto Train 2, the development
will be amongst the lowest-carbon intensity LNG sources globally
for delivery into North Asia. The first cargo is expected to be
delivered in 2026.
Shawcor Ltd. had, in February 2020, signed a
contract with SAIPEM AUSTRALIA Pty Ltd, conditional on a final
investment decision [FID] by the Scarborough Joint Venture, which
was taken on 22 November 2021. The contract is a large project1 for
Shawcor that will include provision of internal, anticorrosion, and
concrete weight coating services to be executed from Shawcor’s
Kabil, Indonesia facility commencing in the fourth quarter of 2022,
with delivery continuing into 2024.
About ScarboroughThe
Scarborough Joint Venture comprises Woodside Energy Scarborough Pty
Ltd (73.5%) and BHP Petroleum (Australia) Pty Ltd (26.5%). Woodside
and BHP announced on 22 November 2021 that a final investment
decision has been made by the Scarborough Joint Venture to proceed
with the Scarborough Project.
About ShawcorShawcor Ltd. is a
growth-oriented, global material sciences company serving the
Infrastructure, Energy, and Transportation markets. The
Company operates through a network of fixed and mobile
manufacturing and service facilities. Its three business
segments, Composite Systems, Automotive & Industrial and
Pipeline & Pipe Services enable responsible renewal and
enhancement of critical infrastructure while lowering risk and
environmental impact.
For further information, please contact
Meghan MacEachernExternal Communications & ESG,
DirectorTelephone: 437.341.1848Email:
meghan.maceachern@shawcor.comshawcor.com
1A large project is defined as a contract award
with a complete scope valued in excess of C$100 million
Forward Looking Information
This news release contains forward-looking
information within the meaning of applicable securities laws. Words
such as "may", "will", "should", "anticipate", "plan", "expect",
"believe", "predict", "estimate" or similar terminology are used to
identify forward-looking information. This forward-looking
information is based on assumptions, estimates and analysis made in
the light of the Company's experience and its perception of trends,
current conditions and expected developments, as well as other
factors that are believed by the Company to be reasonable and
relevant in the circumstances. Forward-looking information involves
known and unknown risks, uncertainties and other factors which may
cause actual results, performance or achievements to be materially
different from those predicted, expressed or implied by the
forward-looking information. The forward-looking information is
provided as of the date of this news release and the Company does
not assume any obligation to update or revise the forward-looking
information to reflect new events or circumstances, except as
required by law.
Source: Shawcor Ltd.
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