Thai subsea firm Mermaid Maritime has set up a joint venture with Meitech Offshore Engineering, providing Mermaid with access to Meitech’s fleet of vessels and other specialist services to boost its capabilities in the Gulf of Thailand.
Meitech Offshore Engineering is part of Indonesia’s PT Meindo Elang Indah, a leading EPCI contractor.
The subsidiary will be called Mermaid-MOE JV, and will be established in Thailand with Mermaid taking a 51% stake.
The joint venture will be used to enhance the provision of offshore transportation, installation and decommissioning services for potential projects in the Gulf of Thailand. It will comprise Mermaid’s Thai personnel together with Meindo’s experienced project personnel. The venture will also allow Mermaid to access to Meindo group’s vessels and other services.