Bhagwan picks up Russian job

Marine services provider Bhagwan Marine has won a contract to provide its services to American company Foss Teras Marine on an oil and gas construction project in Russia.

Under the contract, Bhagwan will supply six vessels over a two-year term, with the value of the deal undisclosed.

Work will begin during the second quarter of the year, as a number of Bhagwan’s vessels come off charter in the North West Shelf.

“The recent downturn in the Australian offshore oil and gas industry has created significant opportunities and motivation for companies like us who are willing to explore other markets and regions,” Bhagwan chief operating officer Darren Kolln said.

“This contract is an important part of Bhagwan’s strategic expansion plans internationally.”