Jandakot-based sub-sea engineering and offshore services company Seatrac Pty Ltd has won a contract in Vietnam with oil exploration company Fina Exploration Minh Hai BV.
It is also understood that Seatrac is to be looking to announce a major offshore equity deal with an offshore company in the near future.
The contract with Fina Exploration Minh Hai BV is for work using the company’s cement injection tool on Fina’s offshore wells.
The tool is used for puncturing and cementing the top hole sections of sub-sea wells. The CIT tool will work in conjunction with the company’s underwater jet-cutting system, known as the Axe, which severs the wellhead below the mud line.
Earlier this year, Woodside awarded a three-year contract for rigless sub-sea intervention work in the North West Shelf and other locations to TSMarine with whom SEATRAC says it is in the process on negotiating a subcontract.
The services Seatrac and its partners will provide include sub-sea tree installation, wellhead abandon-ment, logging, perforating and maintenance activities.
Last year, the company was awarded a $1.6 million commercial ready grant by the federal government to develop its sub-sea well intervention system for installing, repairing and gathering data from offshore oil and gas wells.
Nine sub-sea intervention systems are in use around the world, but Seatrac is the only one developing the systems in Western Australia.
Seatrac was established in 1999 as a sub-sea engineering and offshore services company for the oil and gas sector.
