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Oceaneering (OII) & Stork Win Deals Worth $6.5M From Neptune


Oceaneering (OII) & Stork Win Deals Worth $6.5M From Neptune
Zacks.com
1/19/2021
Oceaneering International, Inc. OII along with engineering and construction firm
Fluor Corporation s FLR subsidiary Stork has clinched integrity management and fabric maintenance contracts on Neptune Energy s Cygnus gas production facility, offshore the UK.
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Cygnus is integral to the UK North Sea energy infrastructure with a capacity to produce nearly 6% of UK domestic gas demand. It is jointly held by Neptune Energy, the operator with 38.75% interest and Spirit Energy with 61.25% stake.
Valued at $6.5 million, the deals are awarded to Oceaneering and Stork under a three-year agreement with an option of two one-year extensions. Per the terms of the pact, oilfield services provider Oceaneering will supply integrity management services to the gas platform. These include pressure systems, structural, pipeline, erosion management as well as offshore inspectio ....

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