Mumbai-based Garware Offshore Services has secured a two year contract from an E&P (exploration and production) company for one of its platform supply vessel.

The company expects revenue of about Rs 45 crore from latest deal.

The company stated in a communiqué that its platform supply vessel, MV Mana, which is currently in the spot market, has received a two year contract in the North Sea by a prominent E&P company.

The deal will be valued at approximately Rs 22.50 crore per annum.

Shares of Garware Offshore Services today settled the day at Rs 151, up 2 per cent compared to its previous close. The stock had made 52-week-high and low of Rs 199 and Rs 52 respectively.