Australia Pacific LNG, a 50/50 joint venture between Origin Energy Ltd
(ASX:ORG) and ConocoPhillips, has signed two key upstream design, engineering and construction contracts for its coal seam gas to liquefied natural gas project.
The company hopes to progress towards final investment decision at the end of 2010.
The contracts were awarded to McConnell Dowell Constructors and Consolidated Contractors Australia joint venture for the pipeline, and Baulderstone Bilfinger Berger Services joint venture for the upstream facilities contract.
Australia Pacific LNG Project Director Todd Creeger says the awarding of the upstream facilities and pipeline contracts is consistent with the project plans the company has communicated earlier and says the experience the contractors have in delivering major projects on-time and within cost estimates were a key factor in awarding the contracts.
Origin Energy earned over $6.9 billion in profit for the year to June 30, 2009.
