Neptune Marine secures new contracts worth $45m30th March 2009,...

Neptune Marine secures new contracts worth $45m

30th March 2009, 8:45 WST


Engineering services company Neptune Marine says it has secured new and extended contracts worth $45 million.

Neptune said the new projects involved five business units and spanned Australia, Indonesia, India, Brunei, Hong Kong, the Gulf of Mexico and Russia.

Neptune chief executive Christian Lange said the contracts demonstrated an increased awareness of the group’s integrated service capabilities in the oil and gas industry.

He said global demand for brownfield inspection, repair and maintenance, construction support and vessel and ROV support services remained high and the company was starting to build a pipeline of works extending into full-year 2010.

Neptune Marine shares were half a cent lower at 43 cents at 8.45am.

STUART McKINNON