Indonesia: Mermaid Secures Contract for MTR-2 Rig

Indonesia: Mermaid Secures Contract for MTR-2 Rig

Mermaid Maritime Public Company Limited, provider of subsea and drilling services for the offshore oil and gas industry,  has secured a contract award with its existing client, 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 started today, 15 May 2012, and is back-to-back with the previous drilling contract which ended yesterday, 14 May 2012. The duration of this contract is for six months and has a potential value of approximately USD 16.1 million. Upon completion of this Contract, the ‘MTR-2’ is scheduled to undergo its compulsory special periodic survey, which will take months to complete. The company has already commenced marketing the ‘MTR-2’ for further drilling contract opportunities after the completion of this special periodic survey.

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Offshore Energy Today Staff, May 15, 2012