Australia's Bhagwan Marine (BM) disclosed Monday that it has bagged a multi-year, multi-vessel contract to provide marine support to American company Foss Teras Marine on a major oil and gas construction project in the Russia’s Far East.
Work on the project commences in the second quarter of 2016. The timing of the project enables Bhagwan Marine to tap on a number of vessels that come off charter in the North West Shelf region of Western Australia.
“The recent downturn in the Australian Offshore Oil & Gas Industry has created significant opportunities and motivation for companies like us who are willing to explore other markets and regions," said Bhagwan Marine’s Chief Operating Officer, Darren Kolln said in the press release, adding that "this contract is an important part of Bhagwan’s strategic expansion plans internationally."
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