Mermaid secures $26.5m drilling contract
Friday, July 22 2011 - 03:56 PM WIB
Singapore-listed firm Mermaid Maritime Public Company Limited announced on Friday that its subsidiary MTR‐2 Ltd. has secured a contract award with an international upstream oil and gas company to provide drilling and related services using the tender drilling rig ?MTR‐2? for the Client?s offshore oil and gas fields in Indonesia.
The contract, which has a potential value of US$26.5 million, has been approved by upstream oil, gas authority BPMIGAS and work under the said contract has already commenced. The duration of this Contract is for approximately nine months. (romel)