Tekmar Nets Offshore Wind Gig in Japan

Friday, July 8, 2022

Tekmar Group has secured a contract to provide an integrated engineering solution, including Cable Protection Systems ("CPS") and Cable Hang-Off Clamps, for an offshore wind farm project in Japan. The contract is expected to be delivered in 2023.

The company did not say who the client was. The financial details were not shared either.

Alasdair MacDonald, CEO of Tekmar Group, said: "We are pleased to be announcing this significant contract award, which represents an important strategic milestone as we extend our geographical reach into the Japanese offshore wind market.  This contract builds on the encouraging contract momentum we have established, highlighted by the record order book of £20.1m we announced with our first-half results, and demonstrates how our CPS solution offers superior technical capability and value in de-risking complex subsea engineering projects for the market.

Market Activity Improving

MacDonald said "We also see this recent contract momentum as an important indicator that the level of market activity is improving and are also pleased to update that we had a strong cash collection towards the end of our June quarter. This supports our confidence in the stability of the business as the market environment improves. 

"The company has launched a formal sale process and further communication with shareholders on this process will be made as and when appropriate to do so. In the meantime, it is business as usual for Tekmar as we remain focused on delivering on our plans and we look forward to keeping shareholders updated with our continued progress."


Categories: Energy Offshore Energy Industry News Offshore Wind Activity Subsea Cables

Related Stories

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

PTTEP Buys Chevron's Hess Unit Share of Southeast Asia’s Offshore Block for $450M

China Starts Production at Major Oil Field in Bohai Sea

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

Fugro Lands Deepwater Gas Field Job in Southeast Asia

Current News

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Norwegian Oil Investment Will Peak in '25

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

Inpex Picks FEED Contractors for Abadi LNG Onshore Plant

Inpex Kicks Off FEED Work for Abadi LNG Scheme Offshore Indonesia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com