Atlantic Navigation and Korean partner secure Middle East decommissioning contractContracts, Tenders and Rates // April 27, 2017
Atlantic Navigation Holdings (Singapore) Limited has announced that a consortium between its subsidiary, Atlantic
Ship Management LLC and Oceanus Co Ltd Korea c/o Oceanus Co Ltd Abu Dhabi, in which it has a 49 per cent interest has been awarded a US$45.2 million project for the removal of decommissioned offshore and onshore facilities by a Middle Eastern national oil company.
The project is expected to start in June 2017 and is to be completed in 18 months of the effective date of the contract.
The project will be jointly managed and operated by both parties under the Oceanus-ASM Consortium.
In addition to its 49 per cent interest in the project, the company will also be responsible for providing the marine spread of about sven vessels to support the offshore phase of the project.