Oil and Gas Business Unit

1
Oil and Gas Business Unit

• Presentation by Stephen Rogers, CE
• 31 October 2006

2
Oil and Gas Macro Issues

• The market flows in cycles (ranging from 5 to 9
  years).
• The market is currently within one of the
  industrys most concerted periods of expenditure.
• Market fundamentals relating to supply, demand
  and commodity pricing all support the continued
  expansion of the industry.
• The global marketis positioned for a periodof
  sustainable andconsistent growth.

Source Infield
3
Our Market

• Total capital expenditure for offshore oil and
  gas in Australasia and Asia over the next 5 years
  is forecasted to be worth 10 Bn USD pa.
• Share -

5.5 Bn
Source Infield
Market Size Clough Share
4
Cloughs Offshore Oil and GasLines of Business
Installation Construction
SURF
Calm buoys Pipelines Installation
Flowlines Umbilicals
FPSO
Conventional Platforms, Fabrication
Installations
EPIC
5
Facilities LOB OMV Maari WHP

• Location Taranaki Basin, New Zealand
• Client OMV New Zealand Limited
• Contract Value Approx 200 million
• Contract Period 2006 2008
• Project Scope
• Provision of engineering, procurement,
  construction and installation activities related
  to the wellhead platform.

6
Facilities LOB Angel Topside Floatover

• Location NW Shelf, Western Australia
• Client Woodside Energy Limited
• Contract Value A45 million
• Contract Period 2005 2007
• Project Scope
• Provision of installation services via Clough
  Aker Joint Venture)

7
Facilities LOB - Fabrication

• With fabrication facilities in Thailand
  (Sattahip) Clough can potentially access 1.6 Bn
  AUD pa of the facilities fabrication market.

Recently completed work on the Alcan Gove modules
8
Surf Line of Business

• SUBSEA CONSTRUCTION SURF
• 500 forecasted growth in the
• number of subsea wells to be
• installed in Asia Pacific in the
• next 5 years.
• Estimated to be worth
• 1b AUD pa.
• Extremely dynamic.
• There is a strong portfolio of
• SURF projects forecast for the next 3 years with
  demand well exceeding current supply.
• Basker Manta is a typical installation only SURF
  project.

9
Surf LOB Anzon Basker Manta

• Location Bass Strait
• Client Anzon Australia Ltd / Upstream Petroleum
• Contract Value 20 million
• Contract Period Feb-Nov 2006
• Project Scope
• Installation of manifolds, umbilicals
• and tie-ins.
• Leak testing, pre commissioning and
• function testing of trees.

10
Apache Hurricane Remedial Work

• Location Gulf of Mexico
• Client Apache Corporation
• Contract Value 40 million pa
• Contract Period 2006 2008
• Project Scope
• Provision of subsea construction vessel,
  associated logistics and engineering support to
  perform salvage operation in the Gulf of Mexico.

11
EPIC Line of Business

• COG is currently executing two EPIC contracts
• Panna Field Development
• G1 Field Development
• EPIC contracts are attractive when
• We control critical elements.
• Matches our strategic assets.
• An acceptable risk profile.

12
Oil and Gas Business Unit

• Presentation to JPMorgan
• Stephen Rogers, CE
• 31 October 2006