Neptune Completes Multiple Projects Utilising NEPSYS

Neptune, Completes, Multiple, Projects, Utilising, NEPSYS,

Neptune announces that it has recently completed a number of repair projects utilising the Company’s patented dry underwater welding technology, NEPSYS®.

The projects include; a bilge keel repair on an FPSO in Australia, subsea inspection and remedial work on an offshore production platform in China and welded repairs to the legs of a Mobile Offshore Production Unit (MOPU) in Malaysia, at a water depth of 57m.

The projects in China and Malaysia were both performed utilising saturation diving and Neptune qualified the diving and welding procedures at the National Hyperbaric Centre in Aberdeen, prior to undertaking the work. Neptune performed all other preparation and training in their dedicated dive tank, at the Neptune Belmont facility.

All of the procedures and executed repairs were approved by the relevant independent classification societies in Australia, China and Malaysia (including ABS and CCS).

Neptune has been developing this technology since 2003 and the execution of these recent projects demonstrates the flexibility of NEPSYS® and its acceptance as an approved dry underwater welded repair solution, to the oil and gas industry.

Neptune is currently also involved in several opportunities using the NEPSYS® technology for additional projects both internationally, and in Australia.

Press Release, November 28, 2013