A new contract win with oil giant Shell in the UK for the provision of sub-sea engineering consultancy services has failed to inject any festive cheer into Neptune ’s share price, which is still stuck near Tuesday’s four-month low of 64¢.

Management said on Thursday it would provide a range of services to Shell for three years with the option of two one-year extensions. Neptune didn’t provide any financial details except to note that this, as well as other contracts announced last week, were in addition to the $20 million in international projects announced recently. Of these, about 60 per cent are due to be completed in the second half of the current financial year.