- Contract win for the Arnish fabrication yard in the Western Isles
- 5 year Master Services Agreement with a global oil services company
Time Frame for £3M Contract
- 1st PO fabricate 6 subsea structures over the next 18 months at Arnish
- Delivery is in stages; with completion expected 1H25
Market Intelligence
- Analysts at Cavendish leave their forecasts UNCH
- Further Improving their visibility over the £200m in their FY24 forecast
- Given the frequency and regularity of these contract wins, investors will be hopeful for positive outlook at the FY24 results, expected in June
"I am delighted that Arnish is recognised as a centre of excellence to deliver critical subsea infrastructure. This contract marks a significant step for the Company and builds on the highly technical work the yard has already undertaken on suction anchors, piles and the work it is currently performing for the Sea Rose FPSO Contract. These specialised subsea structures are a new product area for Harland & Wolff and we expect that successful delivery of this contract will open up significant opportunities for additional contracts in subsea infrastructure going forward."
John Wood, CEO of Harland & Wolff Group Holdings.
Harland & Wolff (HARL)