Neptune Awarded Offshore Contract from MODEC

Neptune Marine Services Limited is pleased to announce it has been awarded a contract from MODEC to complete new works at the MODEC Venture 11 floating production, storage and offloading facility (MV11) in the Carnarvon Basin located 160 kilometres north of Karratha, Western Australia. The contract will deliver revenue of approximately $6 million. Neptune will be using a vessel supplied by Singapore based Pacific Radiance Group to complete the job. Work is expected to be performed in January 2013.

Neptune Chief Executive Officer Robin King said it is an exciting contract for Neptune which demonstrates our ability to win work for major clients and deliver total engineered solutions for our clients utilising a number of our services.

“It is also pleasing that we continue to develop our relationships with key service providers such as Pacific Radiance to deliver on work. We are pursuing follow on work for other clients in Australia.”