Mermaid bags three-year extension in Middle East

Mermaid Maritime’s joint-venture company with an unnamed offshore services operator has secured a three-year contract extension with a national upstream oil and gas company in the Middle East.

According to Mermaid’s statement on Monday, the contract is for offshore inspection, repair and maintenance services and it is in direct continuation to its initial seven-year contract period.

Under the contract, Mermaid will continue to provide a suite of diving services using its modern DP2 saturation dive support vessel Mermaid Asiana along with remotely operated vehicles, specialized diving equipment and divers.

Mermaid’s joint venture partner will provide other offshore vessel related services and logistics. Mermaid has served this contract since 2012.

Mermaid’s portion of the total contract value for the three-year extension period is estimated to be approximately $162 million. The beginning of the three-year extended period will be initiated in phases with all phases scheduled to start during the fourth quarter of 2019.

Chalermchai Mahagitsiri, Chief Executive Officer of Mermaid, said: “For Mermaid, this contract extension is the result of the excellent service that we provide and represents a stream of stable revenue over the next three financial years. It is also in line with our strategic initiative to maintaining our presence in the region and as a platform for further growth and expansion.”


Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.

Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.

Share this article

Follow Offshore Energy Today

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation…

read more >

Offshore Energy Exhibition and Conference (OEEC) 2020

Offshore Energy addresses the technical, operational and commercial challenges associated with future sector growth.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply