Matrix Composites & Engineering (MCE) has been awarded a contract to supply drilling riser buoyancy to an OEM manufacturer based in China.
The contract is worth approximately AUD 6 million (USD 4.3 million), Matrix noted.
The order is for a newbuild semi-submersible under construction at a shipyard in Dalian, China and is scheduled for completion and delivery in H1 FY17.
Matrix Chief Executive Officer, Aaron Begley, said: “I am delighted we have been able to secure this contract to supply a new customer, which is also Matrix’s third major order ultimately destined for a Chinese shipyard.
“Our ability to win new clients and continue growing market share in the depressed oil price environment demonstrates our reputation as the clear leader for drilling riser buoyancy products.”