Monadelphous books extension with Shell

Engineering firm Monadelphous has secured a major maintenance contract to continue work on Shell’s floating liquefied natural gas facility.

Victoria Park-based Monadelphous today announced it expects to continue to provide onshore project management and planning services at Shell’s Perth headquarters.

The company also plans to continue offshore maintenance services at the Shell Prelude Floating Liquefied Natural Gas (FLNG) facility in the Browse Basin, 475 kilometres northeast of Broome.

Launched in 2013, the Prelude FLNG is valued at approximately $15-20 billion, is 488 metres long and has a capacity of 300,000 gigatons.

It is the largest FLNG platform in the world and also the largest FLNG facility built to date.

The seven-year contract is expected to commence in November 2024, following the expiration of the company’s existing contract with Shell.

Zoran Bebic, Managing Director of Monadelphous, said the company has been providing services to Shell on Prelude FLNG for the past nine years.

“We are pleased to continue to provide Shell with services at the Prelude FLNG facility,” said Mr Bebic.

“By extending this important contract, Monadelphous demonstrates its leading position in the Australian energy maintenance market, both onshore and offshore.”

Today’s announcement by Monadelphous follows news earlier this year that the company had signed, among other things, new contracts and contract extensions worth $140 million with Shell.

The value of the contract was not disclosed.

Monadelphous last traded at $12.82 per share at 12:32 AEST.