Mermaid Maritime Public Company Limited announces that its subsidiary Subtech Ltd. (Seychelles), a leading provider of quality turnkey sub‐sea engineering services, has secured a contract award to provide subsea Inspection, Repair, and Maintenance services (“IRM”) along with Saturation Diving Operations for an end client who is a major oil and gas company with a presence in West Africa (“Contract”).

The duration of this Contract is firm for one hundred twenty (120) days and if all options are exercised will be up to one hundred eighty (180) days. The approximate Contract value is USD 11.5 million and will commence in December 2011. This will mark a first for the “Mermaid Endurer” operating off the Congo in West Africa.

The “Mermaid Endurer” is a purpose‐built DP2 dive support vessel and light construction vessel, specially designed for operations under severe weather conditions with high manoeuvrability and station keeping capabilities. It has an integrated 18‐man single bell saturation diving system. The vessel has a 100‐tonne heave‐compensated crane and accommodation for 86 personnel. The “Mermaid Endurer” has class notations that include CLEAN DESIGN (strict environmental standards) and COMFORT CLASS (onboard levels of noise and vibration in compliance with international standards).

Subsea World News Staff , November 18, 2011; Image: Mermaid Maritime