SKILLED Group snags $200 million LNG contract

Labour hire and workforce services company SKILLED Group (ASX: SKE) announced today that it has secured a $200 million contract to provide staff for an INPEX-operated LNG project. As the company builds out an 889 kilometre pipeline to connect offshore gas to a Darwin processing plant, SKILLED will step in with construction and marine crews specializing in pipe-laying operations. Said CEO Mick McMahon in a statement:

“We are very pleased that SKILLED Offshore will be supporting Saipem and the Ichthys LNG project with the provision of highly qualified personnel and a focus on Australian jobs and training opportunities.

“We will be working in close collaboration with Saipem by providing an innovative approach to recruiting for these positions… This contract win reflects SKILLED’s capability as Australia’s leading provider of flexible labour solutions, the development of an innovative solution to match client requirements and builds on our expanded presence in Darwin following our recent acquisition of Broadsword Marine Contractors.”

The contract won’t be fully finalized for another four weeks, but planning is already underway. SKILLED expects to put staff on the ground before FY 2015, and should complete their part of the project by mid-2015.

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Motley Fool contributor Justin Loiseau has no position in any stocks mentioned in this article. You can follow him on Twitter @TMFJLo.

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