October 14, 2009 / 7:43 AM / 9 years ago

UPDATE 1-Kentz says JV wins A$109 mln Australian contracts

* Value attributable to Kentz is 50 pct of the JV

* Says first contract worth A$86 mln for Pluto LNG project

* Says second contract on Gorgon project worth A$23 mln

* Shares rise 3 pct (Adds details)

Oct 14 (Reuters) - Irish engineering group Kentz Corp Ltd KENZ.L said it had been awarded two contracts with a combined value of about A$109 million ($99.4 million) in Western Australia.

Kentz said it won these contracts through its Australian joint venture operating company Thiess Kentz Pty Ltd.

The value attributable to Kentz is 50 per cent of the joint venture, it added.

The first contract, worth A$86 million, will start in October and continue for about 10 months on the LNG processing site at Woodside Petroleum’s Pluto LNG Project.

The second contract, with Thiess Pty Ltd on the Gorgon Project site for electrical works, is worth about A$23 million.

The Gorgon project is a joint venture between the Australian units of Chevron (CVX.N), Exxon Mobil Corp (XOM.N) and Royal Dutch Shell Plc (RDSa.L).

Work on this project is scheduled to begin in the first half of 2010, with a planned completion date in the second half of 2011, Kentz said.

Shares of the company were up more than 3 percent at 186.5 pence by 0737 GMT on Wednesday on the London Stock Exchange. ($1=1.097 Australian Dollar) (Reporting by Aditi Samajpati in Bangalore; Editing by Himani Sarkar)

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