Mermaid Subsea purchases pipelay vessel for Thai decom operations

Mermaid Maritime’s wholly-owned subsidiary Mermaid Subsea Services Thailand (MSST) has signed a Letter of Intent (LoI) with Swiber Holdings for the purchase of a pipelay vessel.

Mermaid expects the acquisition to help MSST secure long-term access to this asset as part of its stated aim to act as a key provider of decommissioning services in Thailand and the surrounding region.

According to the company, the total consideration for the purchase is seven million dollars.

The vessel named Resiliant is a pipe lay and accommodation work barge. It is currently owned by Swiber’s subsidiary, Resiliant Offshore.

The 102-metre long vessel has a 300-ton crane, a 120-tone pipe-lay tension system, and can accommodate 284 persons.

The vessel was built in 2005 and is flagged under Panama. Resiliant is currently operating in Asia and is a suitable vessel for completing decommissioning work scopes.

Recetnly, MSST also entered into a memorandum of understanding (MoU) with PT David Marine for the purchase of a 50% ownership share in DP2 construction support vessel Millennium 3.

MSST believes that purchasing an interest in the vessel will increase its ability to pursue opportunities related to subsea cable-lay activities in the Persian Gulf region and other subsea-related projects.

The subsea services provider currently owns and operates two dive support vessels (DSVs), as well as an ROV support vessel, in the Persian Gulf. The company added that it regularly charters subsea vessels to complete additional projects in both the Persian Gulf, the Gulf of Thailand, and elsewhere in South East Asia.