8mil contract announcement

Neptune Marine secures $8 million integrated subsea services project

Perth, Western Australia: Leading engineering services company, Neptune Marine Services (ASX: NMS) today secured its largest integrated subsea services project with global exploration and production company, Apache Energy.
With an estimated value of $8 million, the project will see Neptune provide a range of subsea services to Apache’s Simpson pipeline, offshore Varanus Island, Western Australia. A further component involves the deconstruction of the North Herald and South Pepper platforms.
The full scope of services to be provided includes management and engineering, diving, survey and fabrication works. Neptune expects to mobilise for the offshore works in March, with completion expected by June this year.
Neptune’s Managing Director and CEO, Christian Lange, said the contract emphasised the capability of the company’s unique integrated subsea services model.
“Due to the successful integration of our recent business acquisitions, we can now provide our clients with a broad range of integrated subsea services,” he said.
“We would expect this project for Apache will be a catalyst for Neptune to secure similar and indeed larger projects as EPIC contractors and energy producers become aware of the unique services that the group can offer the global offshore oil & gas industry,” he added.