Bhagwan Marine bags multi-year deal in Russia
- Business & Finance
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.