Mermaid Secures Drilling Contract for MTR-2 in Indonesia

Mermaid Maritime Public Company Limited announces that its subsidiary MTR-2 Ltd. has secured a contract award with an international upstream oil and gas company to provide drilling and related services using the tender drilling rig ‘MTR-2’ for the Client’s offshore oil and gas fields in Indonesia.

The Contract is scheduled to commence end of April 2013. The term of the Contract is for two years and has a potential value of approximately USD 72 million. The ‘MTR-2’ is completing its compulsory special periodic survey in Singapore and is scheduled to mobilize to work location in Indonesia thereafter.

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Press Release, March 28, 2013