Mermaid Bags New Middle East Subsea Projects

Mermaid Maritime has recently secured seven different subsea projects in the Middle East with an estimated aggregate contract value of USD 11 million.

The various work scopes include subsea survey, inspection, repair and maintenance as well as light construction, the company informed.

According to Mermaid, the projects will be performed in various offshore areas of Qatar and in the Kingdom of Saudi Arabia, with the most of them expected to be completed by the end of August 2016.

In particular, Mermaid’s DP2 dive support vessel ‘Mermaid Endurer’ has started work in Qatar on a light construction intervention project with an estimated working period of circa 100 days.

In addition, the DP2 construction barge ‘Mubarak Supporter’ has completed a cable laying campaign, and will demobilize in the Kingdom of Saudi Arabia, Chalermchai Mahagitsiri, Mermaid’s CEO informed.

Furthermore, the company secured a one year extension of its subsea construction support services contract with an engineering, procurement, construction, installation and commissioning (EPCIC) contractor in Thailand.

The current contract was originally awarded for two years ending in December 2016. The announced extension expands work service to the end of December 2017.

Total estimated value of the two-year contract for 2015 and 2016 is USD 51 million with an expected duration of approximately 325 days.

As Mermaid informed, the work scope for the one-year contract extension for 2017 will be similar to previous years although the duration has yet to be determined. The work will be completed using the DP2 dive support vessel ‘Mermaid Commander’.

 

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