UPDATE 1.35pm: Neptune Marine Services has entered an alliance with Thai-based subsea intervention service company, Beacon SubSea.
Neptune said the alliance would allow the two companies to use their combined service capabilities and experience to provide engineering and total service solutions into the Thai market.
Neptune chief executive Robin King said Beacon SubSea was a company with local know-how and on-the-ground experience with clients.
"The alliance is in line with our strategy of forming strategic partnerships with operators in South East Asia to increase our presence in the growing region," he said.
Mr King said Beacon SubSea had already been awarded contract work in Thailand involving Neptune's remotely operated vehicles, and several tenders involving other Neptune services were under client review.
Neptune shares closed flat at 2.6 cents.