15/05/2020 - 13:09

GR Engineering wins $32m contract

15/05/2020 - 13:09

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GR Engineering Services has received a contract extension from the federal government for operations and maintenance services at the Northern Endeavour Floating Production Storage and Offtake (FPSO) vessel in the Timor Sea.

GR Engineering will continue its work on the Northern Endeavour FPSO vessel in the Timor Sea.

GR Engineering Services has received a contract extension from the federal government for operations and maintenance services at the Northern Endeavour Floating Production Storage and Offtake (FPSO) vessel in the Timor Sea.

The Northern Endeavour FPSO was acquired by the Department of Industry, Science, Energy and Resources in February after former vessel operator Northern Oil and Gas Australia went into administration last year.

The vessel is already moored and operated by GR Engineering subsidiary Upstream Production Solutions, which recently received a short-term contract with the federal government department to continue its services.

GR Engineering today said the government had extended the initial term of the contract, which the Ascot-based company expects will generate around $32 million in revenue, until October 31.

Managing director Geoff Jones said the company was pleased to continue its work with the department.

Shares in GR Engineering were down 1.5 per cent at 2:05pm AEST to trade at 64 cents.

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