TEK-OCEAN to Extend Contract
Source: www.gulfoilandgas.com 2/22/2022, Location: Not categorized
TEK-Ocean Group Ltd (“TEK”) and Beach Energy (Operations) Ltd (“Beach”) have agreed to extend the current service agreement by a further five months to 30 June 2022. The agreement is for TEK to provide onshore support to Beach’s operations at the Geelong Port Supply Base.
Historical activity levels and future assumptions indicate the potential for this extension to generate additional revenue in the order of $4m to $5m over the remaining term of the Agreement. The parties
have agreed to the extension with further capacity for additional extensions as may be needed.
TEK-Ocean’s Managing Director and CEO, Alex Biro commented,
“We are extremely pleased to extend the Geelong Supply Base contract and continue our long standing
and valued working relationship with Beach in support of their ongoing operations to sustainably deliver
energy to the Eastern Australian market.
“Their outstanding commitment to safety and the environment while striving for operational excellence
and energy security make us very proud to be associated with Beach.”
