Tekmar wins PS2.0 million contract for Middle East pipeline project
Tekmar Group PLC on Wednesday said it has won a contract to supply subsea infrastructure technology for a pipeline project in the Middle East.
The Newton Aycliffe, England-based technology and services provider for global offshore energy markets said the deal has been won through a major offshore engineering, procurement and construction contractor operating in the Middle East.
The contract is worth around £2.0 million, with the full amount to be recognised during this financial year.
Tekmar said this covers the design and manufacture of specialist reinforced concrete support structures for a large diameter gas pipeline.
It said there is also potential for ‘additional scope supporting the broader requirements of the project’.
Delivery of the contract is scheduled to be completed by September 2025.
‘We are delighted to have been selected for this significant project in the Middle East, which remains a key market for the group,’ said Chief Executive Officer Richard Turner.
‘As an existing customer of Tekmar, it underscores the trust our customers have in our technical expertise and our ability to deliver high-value infrastructure solutions worldwide.’
Shares in Tekmar were up 9.6% at 6.30 pence in London on Wednesday afternoon.
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