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28 June 2007

 TUCF today signed an exclusive cooperation agreement with Petra Perdana    of Malaysia to market and operate their vessels in Australia and New    Zealand.

Petra is a large owner and operator of offshore vessels and brown fields maintenance services in the South East Asian offshore oil and gas market. They are currently building twelve new AHTS vessels from 5,200 to 12,000 bhp, four point moored maintenance support vessels and two 300 berth accommodation crane barges.

Recently appointed TUCF General Manager
Marine, Craig Maddison, said TUCF would “now be able to offer the Australian and New Zealand region a large choice of vessels, many years of marine experience, and highly developed safety and quality management.”

TUCF and Petra intend to form a new joint venture company shortly in order to control these services in this region.