Bangkok--8 May--Francom Asia
Subtech Qatar Diving and Marine Services LLC (“Subtech”), a business unit of Mermaid Maritime Public Company Limited (“Mermaid”), has been awarded three subsea services contracts with new and existing oil and gas development clients operating in the Middle East worth up to US$14 million.
The first two contracts are for Mermaid’s specialised vessel M.V. ‘Mermaid Siam’ and over a period of eight weeks, are worth approximately US$5.8 million. The M.V. ‘Mermaid Siam’ has already been deployed to the Persian Gulf for the first of these assignments.
The third contract is for air diving and other support services over a period of more than two years beginning May 2012. This contract has a potential value of US$8.2 million and will likewise be carried out in the Persian Gulf area.
“The wins we are announcing today are particularly noteworthy, because they validate our on-going efforts to streamline operations across all of our subsea business units with the intention of offering a consistent set of top quality services — and if required, vessels - throughout the geographies in which we operate”, said Mr. Bruce M. Gemmell, Chief Executive Officer of Mermaid. “These three contracts are testament that this strategic imperative to develop stronger synergies between our operating units is bearing fruit as we strive to further expand our services into the Middle East and beyond.”
Listed on the Singapore Exchange, Mermaid is a majority-owned subsidiary of Thoresen Thai Agencies Plc (“TTA”), a Bangkok-listed strategic investment group that oversees a diversified business portfolio of transport, energy, and infrastructure assets in Thailand and regionally.