Mermaid Nets Middle East Subsea Deal
- Business & Finance
Mermaid Maritime said that its Middle East business unit has been awarded a subsea services contract in a GCC country with an initial contract value of USD 16 million.
The contract is scheduled to be performed in the Arabian Gulf during the course of August 2018 until March 2019.
The work will involve the use of the DP2 dive support vessel ‘Mermaid Endurer’ 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 SPMs for an international oil & gas company, with further options for the removal and reinstallation of the additional SPMs.
This achievement is said to be aligned with Mermaid’s strategy to expand its client base in its Middle East core market.