MMA Offshore Limited, a marine services provider, has been awarded a contract by Woodside Energy valued at approximately A$50 million ($35.24M).
According to MMA’s press release from Monday, the company will provide three vessels to support Woodside’s offshore Northwest Shelf, Pluto and AusOil production assets in Australia’s North West region.
The three vessels to be chartered under the contract include two of MMA’s purpose built Offtake Support Vessels (OSVs), the ‘Mermaid Sound’ and the ‘Mermaid Strait’, and a Platform Supply Vessel (PSV), the ‘Mermaid Leeuwin’.
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 A$110 million ($77.5M) in total, MMA added.
MMA’s Managing Director, Jeff Weber, said: “The significance of the contract in the current competitive market cannot be overstated. There is enormous pressure on the offshore marine industry to achieve sustainable cost positions without compromising quality operations.”
In the press release, MMA also said it expected to deliver EBITDA in the region of A$75 – 85 million for the full year but with a low level of visibility of demand for the second half of the financial year.
Furthermore, MMA said its cost reduction programme was on track to deliver targeted A$15 million in savings and the company continued to pursue opportunities for further cost savings and productivity improvements. MMA has currently two vessels cold stacked and six vessels warm stacked at our facilities in Batam and Singapore.