Otto Marine unit, GO Offshore, has been awarded an offshore support vessel (OSV) chartering contract worth up to A$94.8 million ($95.2 million).
The group says the client is a renowned international oil and gas exploration and production (E&P) company.
The vessel under the charter will be a 100-tonne Bollard Pull OSV for FPSO infield support in the gas field of 40-year life in Australia.
The chartering contract is confirmed for five years from May 2017, with the option of an additional five-year extension.
The contract value for the confirmed period of five years is A$47.4 million. Together with the option, the total contract value is A$94.8 million.
Shares in Otto Marine ended at 20 cents on Tuesday.
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The group says the client is a renowned international oil and gas exploration and production (E&P) company.
The vessel under the charter will be a 100-tonne Bollard Pull OSV for FPSO infield support in the gas field of 40-year life in Australia.
The chartering contract is confirmed for five years from May 2017, with the option of an additional five-year extension.
The contract value for the confirmed period of five years is A$47.4 million. Together with the option, the total contract value is A$94.8 million.
Shares in Otto Marine ended at 20 cents on Tuesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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