Mermaid bags services contract worth $19m

Singapore: Mermaid Maritime Public Company announced that its subsidiary Mermaid Offshore Services has been awarded a call off contract for subsea remotely operated vehicle (ROV) services in Thailand serving major upstream oil and gas operators.

The contract award has an estimated value of $19 million for an initial period of 2 years. The contract, which provides for Mermaid to serve customers in the Gulf of Thailand, requires the use of 2 ROV support vessels simultaneously and will utilize ‘Mermaid Sapphire’ and a vessel of opportunity. The duration of the contract is approximately 75 days for each vessel through 2016. [13/06/14]

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