Australian marine services provider Bhagwan Marine (BM) has been awarded a multi-year, multi-vessel contract to provide marine support to American company Foss Teras Marine on an oil & gas construction project in the Russia’s Far East.
Foss Teras Marine is a Seattle, Washington-based maritime transportation and logistics services provider.
Work starts in the second quarter of 2016 and, according to Bhagwan Marine, the timing couldn’t be better for the company as a number of vessels come off charter in the North West Shelf region of Western Australia.
“The recent downturn in the Australian Offshore Oil & Gas Industry has created significant opportunities and motivation for companies like us who are willing to explore other markets and regions,” said Bhagwan Marine’s Chief Operating Officer, Darren Kolln .
“This contract is an important part of Bhagwan’s strategic expansion plans internationally.”
Bhagwan Marine recently acquired Perth-based Delta Subsea, a subsea engineering consultancy serving the energy sector.