Neptune Marine Services has been awarded a five-year contract to provide a shallow water dive support vessel and related services to Apache Energy
Neptune, in conjunction with Bhagwan Marine, has been awarded the contract, with the potential for a further two-year extension, to supply the 56m DP2 hybrid catamaran, which has permanent air diving and survey capability.
It will operate off the North West coast, with operations expected to commence in October, next year.
Neptune will provide the dive and survey equipment and Bhagwan will provide the vessel.
Capital expenditure on the equipment will be funded through Neptune's existing cash reserves.
Neptune chief executive Robin King said the contract was in line with Neptune's strategy of expanding its service offering through strategic relationships and pursuing-long term contracts with key operators like Apache.
"Importantly, this contract gives us visibility on future work and revenue streams for at least five years," Mr King said.Bhagwan Marine began operating in 1998 and now has a fleet of over 50 vessels that are used to service the oil and gas industry in WA.
The new magazine for a new generation of West Australians.Click here to download »
All the latest market figures from Australia and the world.Click here »
'The West Australian' is a trademark of West Australian Newspapers Limited 2013.
All rights reserved.
Select your state to see news for your area.