Eni Awards Neptune Marine Services Blacktip Gas Field IRM Contract

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Neptune Marine Services said Thursday that it has been awarded a contract from Italian major Eni to perform an inspection, repair and maintenance (IRM) scope in the Blacktip gas field, in the Bonaparte Basin offshore Australia in the Timor Sea on permit WA-279-P.

The Crest Odyssey 2, a saturation dive support vessel, will be used for the IRM scope, Neptune said in a statement.

The contract, expected to deliver $6 million, is due to start in March this year.

In 2001, Blacktip was discovered by the Blacktip-1 well, which flowed at a rate of 89 million cubic feet pre day principally from the Permian interval. The Transocean Sedco Forex jackup drilled the discovery well in 164 feet (50 meters) of water. Shortly after the discovery, the Eni-operated field was further explored and deemed commercially viable.

Blacktip holds an estimated 933 billion standard cubic feet of raw gas and 5.7 million barrels of condensate.

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