Mermaid Maritime scoops subsea services deal

Offshore vessel provider Mermaid Maritime has been awarded a subsea services contract with an initial contract value of $16 million in the Middle East.

Mermaid said on Wednesday that the contract was for work in a Gulf Cooperation Council member country, starting in August 2018 until March 2019.

Gulf Cooperation Council is a regional intergovernmental political and economic union consisting of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE.

The contract award, with work to be performed in the Arabian Gulf, will involve the use of the DP2 dive support vessel Mermaid Endurer, the company said.

The vessel will be equipped with the air and SAT dive systems carrying out the overhauling and dry docking of the calm buoys and installation and disconnection of certain single point moorings (SPMs) for an international oil and gas company, with further options for the removal and reinstallation of the additional SPMs.

Mermaid added that the contract was aligned with its strategy to expand its client base in the Middle East market.