Australian marine services provider Bhagwan Marine Limited has secured a contract from a major oil and gas operator to remove oil tanker moorings and navigation buoys at Barrow Island, marking a strategic step into a wider offshore decommissioning programme.
The award is seen as an entry point into a broader pipeline of asset retirement projects linked to ageing infrastructure in the region. The scope of work will allow the company to demonstrate its technical capabilities in nearshore and shallow-water environments, where demand for efficient removal solutions is expected to grow.
Bhagwan Marine said it is developing a removal methodology that could be replicated across similar projects, positioning the firm to capitalise on a rising number of decommissioning campaigns. Many offshore operators face comparable challenges as legacy infrastructure reaches the end of its operational life, particularly in mature basins.
The company has been steadily building its credentials in this segment. In 2024, it completed the Thevenard Island project, one of Australia’s largest offshore decommissioning undertakings. The campaign involved the removal of nine platforms and required approximately 180 offshore personnel, with more than 850,000 hours worked. The project underscored Bhagwan Marine’s ability to manage complex operations while maintaining safety and efficiency standards.
Since then, the company has expanded its portfolio through additional assignments, including work on Northern Endeavour operations in the Timor Sea, as well as projects involving the Harriet Alpha and Angel platforms offshore Western Australia. These engagements have strengthened its presence in the evolving decommissioning market.
Industry projections indicate that Australia is entering a prolonged phase of offshore asset retirement, driven by ageing oil and gas infrastructure. Estimates suggest total decommissioning liabilities could reach US$60bn, with the bulk of activity concentrated in Western Australia and the Gippsland Basin. Assets slated for removal include platforms, pipelines, wells and subsea installations, creating sustained demand for specialised marine contractors.
Bhagwan Marine’s leadership believes the latest contract reinforces its long-term strategy to expand in this space. Managing director Loui Kannikoski said the company has been positioning itself to capture emerging opportunities across Australia’s offshore basins.
He added that the development of scalable and cost-effective removal techniques will be critical as decommissioning activity accelerates over the coming decade. With its fleet, engineering expertise and operational experience, Bhagwan Marine aims to secure a larger share of what is expected to be a multi-billion-dollar market.
