Mermaid Maritime’s Singapore subsidiary has recently been awarded a subsea contract with an estimated value of $5 million.
The contract was awarded by an unnamed international upstream oil and gas company.
The work is scheduled to start in the third quarter and to be completed in the fourth quarter of 2017, Mermaid Maritime said in a statement on Thursday.
It will involve the use of a company-owned ROV support vessel and a chartered-in ROV support vessel with air diving systems, dredging equipment and concrete coating removal equipment to carry out an air diving job to clamp and repair a 48″ pipeline and to change-out SBM hoses offshore Singapore.
Mermaid emphasized that this is the first time that it secured work of this kind in Singapore and with this customer.