Mermaid Maritime nets $4.6 M in new subsea deals

  • Business & Finance

Mermaid Maritime, a subsea and offshore drilling services company, has recently been awarded two subsea contracts with a combined estimated value of $4.6 million. 

The company said on Friday that the first contract award will involve a short ROV campaign for pipeline touchdown monitoring for an international EPCIC contractor offshore in the Middle East GCC.

The work is scheduled to start in the third quarter of 2017, the company added.

The second contract award, with work scheduled to start in the fourth quarter of 2017, will involve use of a diving vessel with work class ROV, carrying out a subsea services project offshore East Kalimantan, Indonesia, for an international upstream oil and gas company.

Mermaid highlighted that the first contract award is from a new customer in a new country in the Middle East GCC and the second contract award is from a long-term customer.

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