19/01/2006 - 10:50

Neptune secures Cocos Island repair contract

19/01/2006 - 10:50

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Perth-based underwater welding technologist Neptune Marine Services Ltd has secured a fuel line repair contract in the Cocos Islands.

Neptune secures Cocos Island repair contract

Perth-based underwater welding technologist Neptune Marine Services Ltd has secured a fuel line repair contract in the Cocos Islands.

The contract - awarded by a leading oil, gas, energy and shipping multinational - delivers the company its breakthrough into the oil and gas repair and maintenance market.

Neptune Services' executive director Clive Langley said the company's technology had significant potential for this sector and was targeted as a future cornerstone business in its prospectus.

"The contract also represents a preliminary return on the efforts of Neptune Marine in pursuing the petroleum sector under a growth strategy to globally commercialise our technology," he said.

"In securing this initial contract, Neptune has been able to demonstrate the practical application of our technology, as well as the versatility of the Neptune system to be customised to accommodate unique project requirements."

Work on the Cocos Island project will commence next week and take five to seven days to complete.

The task involves repairing a 4 inch diameter, stainless steel subsea pipe positioned between 6 to 10 metres underwater. Neptune Marine has reconfigured its weld housing system to accommodate the pipe's flange and joint configuration.

Mr Langley said Neptune Marine would mobilise a project team of two divers, technical and supervisory personnel to the Cocos Islands to fulfil the contract.


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