MMA Offshore secures Woodside contract

Company News

MMA Offshore Limited (ASX:MRM) has been awarded a contract by Woodside Energy, valued at approximately $50 million.

Under the Woodside integrated fleet contract, MMA Offshore will provide three vessels to support Woodside’s offshore Northwest Shelf, Pluto and AusOil production assets in Australia’s North West region.
 
The contract for the three vessels is for a firm period plus a number of options. Should all options be exercised, the contract value would be approximately $110 million in total.
 
MMA Offshore’s Managing Director Jeff Weber highlighted the current pressure on the offshore marine industry and said the significance of the contract in the current competitive market cannot be overstated.
 
MMA Offshore recorded a net loss of $51.29 million at 30 June 2015.