Mermaid Wins Subsea Construction Support Contract (Thailand)

Mermaid Maritime Public Company Limited announces that its subsidiary Mermaid Offshore Services Ltd. (“MOS”) has been awarded a subsea construction support services contract with a major engineering, procurement, construction, installation and commissioning (“EPCIC”) contractor in Thailand serving a major international upstream oil and gas operator.

The contract award has an estimated value of USD 32 million and is scheduled to commence in May 2014 for a term of almost 200 days. The contract, which will serve the customer’s 2014 campaign in the Gulf of Thailand, will utilize the DP2 Dive Support Vessel ‘Mermaid Commander’ and has already been included in Mermaid’s total order book previously announced. This represents the ninth year that Mermaid has secured this role and includes options exercisable by the customer to extend the contract for a further two additional campaign years.

[mappress]

December 18, 2013