Clough Limited

Clough Limited

Type	Subsidiary (formerly Public)
Traded as	ASX: CLO
Industry	Engineering, construction and asset support contractor, primarily to oil and gas industry
Fate	acquired by Murray & Roberts
Founded	1919, Perth, Western Australia
Headquarters	Perth, Western Australia, Australia
Area served	Worldwide
Key people	Peter Bennett (CEO, Mng. Director)[1]
Services	engineering, construction
Revenue	$1.51 billion AUD (2012/13)
Net income	$90.7 million AUD (2012/13)
Total assets	$461.8 million AUD
Number of employees	6,343 (2013)
Parent	Murray & Roberts
Website	www.clough.com.au

Clough Ltd. (short name: Clough) is an international public company based in Perth, Western Australia. It has projects in engineering, construction, operations and maintenance services, principally in the oil and gas industry. It was formerly listed on the ASX as ASX: CLO), but was fully acquired by Murray & Roberts Holdings, and delisted on 12 December 2013.^[2]

History

The company was established in Perth in 1919,^[3] as builders J. O. Clough and Son. Clough underwent significant growth and diversification from the 1950s through 1970s.^[4] Expansion was fueled by civil engineering and infrastructure contracts from Western Australia's Pilbara iron ore boom. Eventually, Clough undertook its first oil-and-gas project on Barrow Island in 1965.^[3][5]

During the 1970s and 1980s, Clough pursued activities in the Middle East, Indonesia and Africa. Branch offices were established in Brisbane, Bangkok and Houston.^[6] Acquisition of the Petrosea Group of Companies in 1984 (divested in 2009) was a basis for expansion in the South East Asian region. The company was listed on the Australian Stock Exchange in 1998, and the Clough family ceased to be shareholders in 2007.^[3][7]

Around 1991 Clough Engineering took over Noyes Bros., and traded as Noyes-Clough until 2004, when that branch of the company was purchased by Project Solutions Australia Pty Limited, and now operates as Noyes Bros. Pty Limited, as part of that group.^[8]

In October 2008, Clough sponsored construction of a First Year Centre for engineering students at the University of Western Australia,^[9][10] which opened in 2010, supporting students "with a space to have as their base, to meet, work in groups, and also work on projects [from industry]".^[11] It was recorded that former chairman and managing director Harold Clough had been a long-term benefactor of the university.^[12]

Principal projects

• Project management services in Saudi Arabia.^[13]
• CloughAMEC Joint Venture for Woodside Energy oil assets in Australia and New Zealand (in association with the Beca Group)^[14]
• Clough Curtain joint venture, involved inter alia with PNG LNG Upstream Infrastructure^[15]
• Gorgon LNG Project Australia contracted by Chevron Australia (Kellogg Joint Venture)^[13]
• CloughAMEC Joint Venture for ConocoPhillips Bayu-Undan Operations & Maintenance, Timor Sea^[13]

References