Mermaid Secures Contract Extension for MTR-1 (Indonesia)

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.

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Press Release, February 8, 2013