June 1 - Fairstar Heavy Transport has been awarded two transportation contracts by the companies involved in developing and operating the Gorgon LNG Project.
The Gorgon Project is operated by Chevron. It is a joint venture of the Australian subsidiaries of Chevron (approximately 47 percent), ExxonMobil (25 percent) and Shell (25 percent), Osaka Gas (1.25 percent), Tokyo Gas (one percent) and Chubu Electric (0.417 percent).
Under the terms of the agreements, Fairstar will provide its two semi-submersible heavy transport vessels for the transportation of modules and related project materials from various construction sites throughout Asia, to the Gorgon Project's LNG Plant being constructed on Barrow Island off the northwest coast of Australia.
The two contracts are for a minimum term of one year per contract and can be extended at the option of Gorgon for an additional four month period.
The total value of the two contracts, including the options, is approximately USD90.1 million.