Garware Offshore bags Rs 45-cr contract

Garware Offshore Services today said it has bagged a two year contract, through which it expects a revenue of about Rs 45 crore, from an E&P (exploration and production) company for one of its platform supply vessel.

"The company's platform supply vessel, MV Mana, which is presently in the spot market, has been awarded a two year contract in the North Sea by a prominent E&P company," Garware Offshore Services said in a statement to the BSE.

"The value of the contract will be approx Rs 22.50 crore per annum," it added.

Shares of Garware Offshore Services were trading at Rs 151.50, up 1.68 per cent in the afternoon trade on the BSE.