Mermaid Offshore Services awarded services contract with estimated value of $19 mn

6/16/2014

Mermaid Offshore Services awarded services contract with estimated value of $19 mn

BANGKOK, Thailand -- Mermaid Maritime Public Co reported that its subsidiary Mermaid Offshore Services (“MOS”) 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.

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