Neptune Marine Services Lands Deal for Ichthys Project Offshore Australia

Neptune Marine Services Limited (Neptune or the Company) reported Thursday it has been awarded a framework agreement by Inpex Corp. for the provision of Neptune’s range of specialist services offshore Australia.

Under this agreement, Neptune has been awarded a 40 month rig positioning and survey services contract for the Ichthys liquefied natural gas project. The services are scheduled to commence in November/December, and are expected to generate revenue of approximately $3.5 million.

Neptune services provided as part of this initial contract include: rig positioning, tug positioning, anchor placement utilising Neptune’s proprietary NepSMART systems and Long Base Line (LBL) subsea positioning. Neptune will also deploy its NepCat 3D Catenary Visualisation package as a component of the rig positioning campaign.

Neptune CEO, Robin King, said “following the recent award and completion of a number of scopes of work by Neptune businesses on the Ichthys project, it is pleasing to be awarded this important framework agreement which will allow for our continued involvement in this key resource development project”.