North East offshore specialist Tekmar Group has announced a $10m deal for work on a major Middle East project.
The Darlington group – which has five main operating companies in Tekmar Energy, Subsea Innovation, AgileTek Engineering, Ryder Geotechnical and Pipeshield International – has sealed the lucrative contract to provide pipeline support and protection materials for a subsea construction project.
The deal, worth in excess of $10m (£7.2m), comes less than a month after it announced a contract award to supply cable protection systems for the world’s largest offshore wind farm, Dogger Bank, being built off the North East coast.
Read more: Find more North East business news here
Tekmar Energy signed that contract with procurement and installation contractor DEME Offshore to design, manufacture and supply its Generation 10 TekTube CPS (Cable Protection System) equipment, to protect subsea inter-array cables on the first two phases of the project, with an option for the third phase.
In a stock market announcement the firm said it anticipates the latest deal will be delivered in the group’s current financial year ending September 30.
Alasdair MacDonald, CEO of Tekmar Group said: “This major contract award represents a significant milestone in expanding our geographical presence, a key driver of our growth strategy, and builds on our encouraging recent contract momentum, including our partnership with DEME Offshore on the Dogger Bank Wind Farm.
“These contracts highlight the breadth of our engineering capability and support our strategic growth plan as we continue to work through the industry related challenges we’ve previously highlighted.
“I would like to congratulate the team on securing this contract, which is testament to our subsea engineering and project management expertise and our local manufacturing and supply chain capability.
“We look forward to delivering on our part of this important project.”
You can join the BusinessLive North East conversation on LinkedIn and Twitter
Read More Related Articles County Durham growth fund helps firms create more than 250 new jobs Read More Related Articles Ministry of Defence work propels sales and profits at North East ship builder A&P Group