Mermaid secures drilling contract award
Saturday, March 30 2013 - 03:12 AM WIB
By Romel S. Gurky
SGX-listed company Mermaid Maritime Public Company Limited said on Wednesday 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 is scheduled to commence at the end of April 2013. The term of the Contract is for two (2) years and has a potential value of approximately US$ 72 million.
The ?MTR-2? is completing its compulsory special periodic inspection in Singapore and is scheduled to mobilize to work location in Indonesia thereafter.
Editing by Benget Besalicto Tnb