Mermaid wins US$55m subsea services contract in RI
Monday, September 16 2013 - 01:06 AM WIB
SGX-listed Mermaid Maritime Public Company Limited said that its Indonesian subsidiary PT Seascape Surveys Indonesia has been awarded an initial of two years contract, with a one year option, to provide offshore inspection, repair and maintenance (IRM) services to a major Indonesian based upstream oil and gas operator.
The company said in a statement received Monday that the estimated contract value for the initial term is US$55 million and will utilize the Indonesian flagged DP2 vessel, M.V. 'Endeavour', which is on long-term charter to Seascape. Seascape will be directly providing full service air diving and remotely operated vehicle (ROV) spreads for this IRM campaign through in-house resources and is the first major diving contract Seascape has undertaken to date.
?This marks another important step in the development of Seascape, as we further expand our service offerings into diving services based on the demand for our services from the Indonesian market?, said Chalermchai Mahagitsiri, Chief Executive Officer of Mermaid.
?For Seascape, this is our first diving contract, which will be performed directly by Seascape through in-house resources,? added Peter Reichlmeier, Managing Director of Seascape.
Editing by Reiner Simanjuntak