TEK-Ocean to provide marine services for Marinus Link project in Bass Strait

TEK Ocean ASX T3K marine services Marinus Link project Bass Strait Spirit vessel MMA Offshore
TEK-Ocean is deploying its Spirit vessel to assist MMA Offshore with acquiring, integrating and interpreting geophysical and geotechnical data for the Marinus Link project.

MMA Offshore has contracted TEK-Ocean Group (ASX: T3K) to provide marine services in the Bass Strait – the stretch of water separating Tasmania from the Australian mainland.

TEK-Ocean has been engaged to provide vessel and associated support services for a marine engineering geotechnical site investigation campaign in the strait.

MMA is undertaking the campaign for Marinus Link which is working directly for the Tasmanian and Australian governments to investigate a new interconnector between Victoria and Tasmania.

The project, which is also known as Marinus Link, is evaluating a 1,500-megawatt capacity undersea electricity connection between the two states.

This effort aims to unlock Tasmania’s renewable energy and storage resources to deliver low-cost, reliable and clean energy for customers in the national electricity market.”

The Marinus Link project is expected to help cut at least 140 million tonnes of carbon dioxide equivalent emissions by 2050 – underpinning part of Australia’s future electricity grid.

Marine engineering geotechnical site investigation

Prior to the connection being build, MMA is acquiring, integrating and interpreting geophysical and geotechnical data to help with cable route feasibility and cost assessments.

TEK-Ocean is providing its recently upgraded Spirit vessel, which has a newly installed 60-tonne specialised ocean working crane.

Spirit will be deployed to assist the Marinus Link project in the March quarter of next year.

The contract is for an initial 25 “firm” day commitment period and an optional 32 days.

TEK-Ocean estimates the revenue from the contract will be around 10% of its historical average turnover.

“TEK-Ocean is extremely proud to have been awarded this contract in support of MMA and their client Marinus Link,” TEK-Ocean chairman Brendan Brown said.

“This contract expands upon TEK-Ocean’s existing works in the renewable and future energy space and is testament to the fact that TEK-Ocean’s services are crucial to both current and future energy needs of Australia.”

TEK-Ocean debuted on the ASX in September after raising $6.6 million via the issue of 13.19 million shares at $0.50 each.

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