TEK-Ocean (ASX:T3K) awarded artificial reef installation project

• Subcon Blue Solutions has selected TEK-Ocean Group (T3K) for an artificial reef installation project off the coast of Victoria
• TEK will be responsible for installing 16 artificial reef structures as part of the project which aims to enhance the fish biodiversity and fish stocks for local fishers
• Prior to the award, TEK completed the five-year recertification for TEK-Ocean Spirit along with the installation of the 60T offshore crane
• Company shares closed down 5.26 per cent at 36 cents

Recently listed company TEK-Ocean Group (T3K) has been awarded an artificial reef installation project by Subcon Blue Solutions.

Subcon selected TEK as the installation contractor and it will be responsible for installing 16 artificial reef structures off the coast of Victoria. The aim of the ‘community enhancing’ project is to enhance fish biodiversity and fish stocks for local recreational fishers.

Melbourne-based TEK-Ocean provides services within the oil and gas, marine and renewable energy sectors. For years, its TEK-Ocean Spirit ship supported the local offshore energy projects and stimulated local employment.

Prior to being awarded this contract, TEK completed the five-year recertification for TEK-Ocean Spirit along with the installation of the 60T offshore crane.

Chairman Brendan Brown said this contract marks a major milestone for its growth and expanded offering in environmental activities.

“Completion of the capital upgrades to the TEK-Ocean Spirit within budget and on-time demonstrates our ability to execute complex projects either as internal capability enhancements or as a service in support of our clients,” he said.

“The timing of the upgrades has allowed for a successful, safe and efficient execution model for the Artificial Reef Project for which we are proud to be playing an important part, enhancing the local communities, environment and creating and sustaining local jobs.”

Company shares closed down 5.26 per cent at 36 cents.