Mermaid nets new subsea contract awards
- Business & Finance
Mermaid Maritime, a subsea and offshore drilling services company, has been awarded three subsea contracts with a combined value of $12 million.
Mermaid said on Wednesday that the company would utilize two of its vessels as well as ROVs, specialist equipment, and project teams. All three deals are for undisclosed clients.
The work under the first contract will begin in the third quarter of 2017 and involve the use of the DP2 saturation diving vessel (DSV) Mermaid Commander with a Quasar work-class ROV.
The deal entails a 60-day saturation diving and ROV inspection, repair, and maintenance (IRM) project in Malaysia.
The second and third contract will also begin in the third quarter and involve the use of the DSV Mermaid Endurer.
The contracts also include using an ROV and grouting spread to carry-out combined survey, spool-piece tie-in, and free span correction projects on subsea pipelines in the Middle East.