IN BRIEF: Tekmar hails two offshore grouting contracts in Qatar

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Tekmar Group PLC - Newton Aycliffe, England-based technology and services provider for the offshore energy industry - Says it secured two ‘significant’ offshore grouting contracts in Qatar, supporting subsea infrastructure inspection maintenance & repair campaigns. The total value of the contracts is about $1.6 million, with the combined scope including the provision of pipeline support remediation works. The contracts are with two existing customers. Mobilisation starts immediately, with the work expected to complete by the end of October.

Tekmar Chief Executive Officer Richard Turner says: ‘Grouting is a strategically important offshore energy service line for Tekmar, and we continue to invest in this area to expand our offering and grow our market share globally. Demand for these services is strong and these awards reflect the trust placed in our offshore energy services and our ability to deliver complex subsea solutions safely and efficiently.’

Current stock price: 5.50 pence each, down 8.3% on Monday afternoon in London

12-month change: down 42%

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