Thailand’s Mermaid Maritime has announced that its subsidiary Mermaid Subsea Services has established an offshore transportation, installation, and decommissioning services business unit as part of its diversification strategy.
The scope of services of the new business unit includes new platform and pipeline installation and decommissioning to meet demand from major oil operators in Thailand and the surrounding region.
According to Chalermchai Mahagitsiri, CEO of Mermaid, the potential for future decommissioning work is expected to increase in 2021 and continue over the next 10-20 years. In particular, the Gulf of Thailand has over 400 offshore platforms with an estimated 100 platforms to be approved by the Thai government for decommissioning over the next 10 years.
“With this initiative by Mermaid, we have become the first Thai-owned and Thai-operated services company in the Offshore Transportation, Installation and Decommissioning sector having the capability to deliver services of an international standard using qualified local content for the Thailand market”, said Mahagitsiri.
Mermaid Subsea Services has already been approved as a qualified bidder to participate a decommissioning program initiated by Thai oil and gas operator, for 49 platforms during the period from 2020 to 2023.