posted in:

Mermaid’s Subtech unit awarded subsea services contract in Qatar

Wednesday, Nov 07, 2012

Mermaid Maritime Public Company Limited ("Mermaid") is pleased to announce that its business unit Subtech Qatar Diving and Marine Services LLC ("Subtech") has been awarded another subsea services contract in Qatar with an existing client, an international upstream oil and gas operator.

This contract will be performed utilizing Mermaid’s specialized DP Barge ‘Mermaid Siam’ and its associated saturation diving system and other specialized diving equipment and personnel. The scope of services includes ongoing offshore field maintenance, remedial and call-off work. The duration of the contract is for a period of five years with the said work scope expected to be performed within a window of three months each contract year. Contract revenues are expected to be pproximately USD 25 million over the five year period, or an average of USD 5 million per contract year. Performance of services for the first contract year has already commenced.

"We again thank our clients for expressing their confidence in Subtech in the form of ongoing awards. We continue to be proud to focus on our core areas and to continue to offer the same level of quality of services that has accounted for our success to date. We expect the growing reputation of our quality of services to deliver more contract awards in this region", said Mr. Paul B. Whiley, Managing Director of Subtech.

None of the directors or controlling shareholders of Mermaid has any interest, direct or indirect, in the said contract. There are also no new directors proposed to be appointed to Mermaid in connection with the said contract.

Source: Mermaid Maritime Public Company Limited

posted in:

Other Project News

Shell announces Malaysia deep-water gas discovery 17-04-2014
Octagon 88 Resources announces Red Earth light oil project update 16-04-2014
Lamprell has received a new contract award for the construction and delivery of two Mobile Offshore Drilling Platforms 16-04-2014
New Dragados offshore contract secured for IKM Testing 16-04-2014
Ezion Secures a contract with an approximate value of USD43.7 million over a 3 year period to provide a service rig to support a South Asian Based Nat 16-04-2014
Ezion Secures a contract with a value of approximately USD35 million over a 3 year period to provide a service rig to support a middle eastern state 16-04-2014
Foster Wheeler awarded contract for incinerator in Vietnam 15-04-2014
Contract extension for Safe Hibernia 15-04-2014
Aker Solutions Wins Contract to Deliver Subsea Production System for Total's Kaombo Development in Angola 15-04-2014
Magnolia LNG Project technical services agreement signed with SKEC Group 14-04-2014

Advertisers





[