Kentz (KENZ) has been awarded a $100m (£65m) largely reimbursible contract at the $34bn Ichthys LNG project in Australia. While relatively modest in size, broker VSA Capital says there is much more to the win than meets the eye. That's because Kentz is bidding on up to $1.5bn worth of other work at the project and it's reasonable to expect further wins. Indeed, this is Kentz' second contract at the site and the group clearly enjoys a good relationship there, supported by Kentz's excellent reputation in LNG.
Kentz has also secured a new commissioning contract in Alaska at the Point Thomson gas cycling and condensate production plant. It is the group's largest US contract to date and will be running for the next three years under the Technical Support Services (TSS) business unit. There is scope for further contract wins here, too, as the Point Thomson project is still in the early phases of development.
