Nov 10 (Reuters) - MMA Offshore Ltd MRM.AX :
* Market update MMA secures woodside contract - trading update MRM.AX
* Has been awarded a contract by Woodside Energy Ltd valued at approximately A$50 million.
* Contract for the three vessels is for a firm period plus a number of options
* Should all options be exercised, the contract value would be approximately A$110 million in total.
* Says MMAs cost reduction programme is on track to deliver our targeted A$15 million in savings
* Expects to deliver EBITDA in the region of A$75 - 85 million for full year but with a low level of visibility of demand for second half
* "Continues to generate positive operating cash flows"
* "Market conditions unlikely to improve through FY 2016"
* "Is trading within the banking covenants and is actively working to reduce debt through asset sales"
* Source text for Eikon ID:nASX8xTtCT
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