Hallin Marine Wins First Gulf of Mexico Contract
Hallin Marine has signed an agreement with a substantial US based offshore contractor for work in the Gulf of Mexico. The US$16.4 million contract is for an initial 12 month period with an option for a further year valued at US $13.9 and is the largest contract ever won by the company.
Under the terms of the contract Hallin will supply technical support as well as Dynamically Positioned (DP) vessel and sub-sea intervention equipment, consisting of a 200 meter-rated Saturation Diving System and Air Spread Diving System. The equipment will be operated from the vessel 'Toisa Voyager' which Hallin has chartered from Sealion Shipping for the duration of the contract. This sophisticated DP vessel is currently being completed at Wu Hu Yard in China and will be taken on charter by Hallin Marine in Singapore in May 2006 prior to mobilisation to the Gulf of Mexico.
The contract is to support the US company's construction work in the Gulf of Mexico region. The vessel and equipment will be managed and mobilised from Singapore in June 2006 and work is expected to commence in July 2006. Hallin has traditionally been strong in the South East Asia, India and China and this contract is Hallin's first in the Gulf of Mexico.
John Giddens, Chief Executive of Hallin Marine, said:
"We are delighted to be working with this substantial company and being awarded the contract is recognition of Hallin's expertise and ability to put together a quality bespoke package, tailored to a client's needs.
"This contract represents two firsts for Hallin: our largest contract win yet, which will almost double in size if the second year option is taken up; and our first in the Gulf of Mexico. We have high hopes for further work from that region."
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