Neptune secures US, Australian projects

West Perth-based engineering services company Neptune Marine Services Ltd has secured a series of new diving and maintenance related projects in the United States and Australia.

Neptune's United States business, US Underwater Services, has signed a master service agreement with the Lower Colorado River Authority to provide commercial diving services for all LCRA projects in the central Texas Lakes. The project is for a 12 month period with a possible four year extension.

USUS has also been contracted to undertake underwater cleaning, debris removal and inspection of the stilling basin and intake trash tracks at the Harry Truman Dam, Warsaw, Missouri, for the US Army Corps of Engineers.

The project is expected to take 30-36 days.

In Australia the Diving Services division continues to secure ongoing work with WA Water Corporation. The business has been contracted to provide further diving work to support the refurbishment of the Stirling Dam upgrade project in conjunction with McMahon Construction. The Diving Services division has also recently undertaken diving and support services to assist with the Mundaring Weir upgrade, involving the drilling of concrete core samples in the 100 year old wall.

The full text of a Neptune announcement is pasted below

Perth, Western Australia: Leading engineering services company Neptune Marine Services (ASX: NMS) today announced that it has secured new diving and maintenance related projects in the water sector in the United States and Australia.

Neptune's United States business, US Underwater Services (USUS), has signed a master service agreement (MSA) with the Lower Colorado River Authority (LCRA) to provide commercial diving services for all LCRA projects in the central Texas Lakes. The project is for a 12 month period with a possible four year extension.

USUS has also been contracted to undertake underwater cleaning, debris removal and inspection of the stilling basin and intake trash tracks at the Harry Truman Dam, Warsaw, Missouri, for the US Army Corps of Engineers.

The project is expected to take 30-36 days.

In Australia the Diving Services division continues to secure ongoing work with WA Water Corporation. The business has been contracted to provide further diving work to support the refurbishment of the Stirling Dam upgrade project in conjunction with McMahon Construction. The Diving Services division has also recently undertaken diving and support services to assist with the Mundaring Weir upgrade, involving the drilling of concrete core samples in the 100 year old wall.

Neptune's Managing Director and CEO Christian Lange said while the group's primary focus remains focused on the offshore oil & gas sector, expanding its diving and IRM services in the water sector is a logical step.

"These are excellent projects for Neptune to secure in terms of the scope of works, the sector opportunities and the customer partnerships. We are particularly pleased to be partnering on a project with such a prestigious customer as the US Army Corps of Engineers. It gives us a platform to secure further projects from relevant US government departments in the future.

"It makes sense for Neptune to build its presence in the water services sector, and it is a logical market for our Diving Services division. There is a large market in providing diving and IRM services for dams, weirs, reservoirs and other relevant water related sites, and Neptune is continuing to source other opportunities.

"The oil & gas market remains our primary and most lucrative market, but we will also target sectors where we have the skills and capabilities to build further revenue streams for Neptune," Mr. Lange said.