Mermaid Maritime Public Company Limited’s subsidiary MTR-1 (Singapore) Pte. Ltd. has secured a contract extension with an existing client, an international upstream oil and gas company (“Client”), for accommodation barge support services in Indonesia utilizing the ‘MTR-1’ (“Contract”).
The duration of this Contract extension is around 5 months and has a potential value of USD 4.7 million.
The ‘MTR-1’ is presently in Indonesia and has recently completed an initial term with the same Client for accommodation barge support services. This Contract extension commenced yesterday back-to-back upon the completion of the initial term.
[mappress] Press Release, February 8, 2013