23/10/2014 - 14:58

Monadelphous extends Neptune contract

23/10/2014 - 14:58

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Neptune Marine Services has won a 12-month contract extension from engineering firm Monadelphous Group for marine facilities inspection and maintenance work for an undisclosed amount.

Monadelphous extends Neptune contract

Neptune Marine Services has won a 12-month contract extension from engineering firm Monadelphous Group for marine facilities inspection and maintenance work for an undisclosed amount.

Neptune said the work included a contract variation for a six-month inspection campaign.

“The expected revenue to Neptune resulting from the extension is approximately $10 million,” the company said in a statement.

Neptune will utilise its dive support vessel DSV Issabelle, and the Bhagwan Marine-owned MV Lauri J.

Chief executive Robin King said Neptune was entering its fourth year of work for Monadelphous.

Neptune shares closed 2.8 per cent lower at $1.38 per share.

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