Dutch dredging company Royal Boskalis Westminster NV said Tuesday that its associated company Smit Lamnalco has been awarded a 10-year contract for providing terminal services at the Papua New Guinea liquefied natural gas terminal near Port Moresby.
-The total contract value is $120 million and Boskalis’s share is $60 million. Services will commence mid-2014.
-The contract, which has additional extension options, is awarded by Esso Highland, a unit of Exxon Mobil Corp. XOM +1.43 percent.
-The PNG LNG export terminal is part of a larger integrated LNG production, processing and liquefaction project which started following the discovery of three major gas field in Papua New Guinea. Both the offshore and onshore infrastructure is currently under construction and expected to be operational in 2014. Smit Lamnalco will provide towage and marine support services for LNG vessels at the terminal for which it will invest in 4 new 65 tonne bollard pull tugboats.