Neptune signs framework deal with oil and gas giant

Neptune Marine has signed a framework agreement to provide sub-sea engineering services for BP in the UK.

Neptune said the agreement would see it provide BP with its full suite of engineering solutions, including assembly and testing, offshore engineering, analysis and manufacturing.

“the Agreement provides a solid foundation for further growth of Neptune’s business with BP in the North Sea, Atlantic, Caspian and other key regions,” the company said in a statement.

“It is the culmination of a long-standing relationship between the companies and is a clear illustration of the interest in Neptune’s integrated engineering solutions by the oil and gas industry.”

Neptune said it was currently in discussions to land similar agreements with other clients. \

At close of trade today, Neptune shares had gained 3.2 per cent, trading at 3.2 cents.