Otto Marine gets US$10m contract
By Irene Chan, 938LIVE | Posted: 20 November 2009 1551 hrs

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SINGAPORE: Singapore-listed Otto Marine said one of its units has clinched a US$10 million contract for offshore seismic information gathering.

The contract was awarded by Crown Minerals, which is the arm of New Zealand's Economic Development Ministry that manages the oil, gas, mineral and coal resources.

For this project, the Otto Marine unit has chartered a seismic research vessel on a time charter basis for two years.

The vessel will acquire over 7,000 kilometres of 2D data in New Zealand's new frontier basins. - 938LIVE/vm