UK’s Mermaid Subsea wins ‘largest contract to date’
Mermaid Subsea Services UK has secured a multi-well contract to be carried out on behalf of a North Sea operator, said to represent the company’s largest contract to date.
The two-year contract includes the decommissioning of 22 wells and will see the creation of 12 new roles at Mermaid’s Aberdeen headquarters.
According to the UK company, activity is already underway.
The announcement comes a few months after the completion of Mermaid Subsea UK’s inaugural vessel-based well plugging and abandonment (P&A) campaign.
“We are delighted to announce the award of this contract, which follows hot on the heels of our well P&A activity during Q4 2022 with collaborative partner, Exceed,” said Mermaid Regional Director, Scott Cormack.
“Well P&A has been highlighted time and again as an important lever in the reduction of what accounts for approximately 50% of all costs within the decom sector. The vessel-based P&A approach provided by Mermaid results in significant agility and flexibility across the whole work scope, which plays a critical role in the drive to reduce the North Sea’s decommissioning bill.”
To remind, Mermaid Maritime established an indirect wholly-owned subsidiary in Thailand focused primarily on offshore and onshore decommissioning at the beginning of 2022.
A few months later, the company launched an indirect 50 per cent-owned subsidiary in the United Arab Emirates, whose primary activity is managing and operating the DP2 construction support vessel Millennium 3.