Neptune snares Qatar deal

Australian outfit Neptune Marine is primed to start a $20 million combined services subsea inspection contract for Qatargas, the company’s first major project in the Middle East.

The three year deal, which is due to start early in the new year, covers the inspection of Qatargas platforms, offshore pipelines and subsea connection facilities which lie in the Arabian Gulf.

Under the terms of the contract, Neptune will provide a dynamically positioned (DP II) vessel bundled with a range of services including ROVs, hydrographic survey, diving and pipeline stabilisation.

Neptune said the deal is its first major project in the Middle East, a region it is targeting as a growth market.

“Qatar has a strong economy in which we see significant growth potential over the longer term. Similarly, Qatargas’ recent expansion plans will see it exporting 42 million tonnes of LNG by 2010, and Neptune is well placed to benefit from its relationship with Qatargas and other producers in the region,” Neptune said in a statement today.

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