Thailand's Mermaid Maritime said it won two new subsea contracts worth US$4.6 million, which will see it expand into the Middle East.
An international EPCIC offshore contractor in the Middle East hired Mermaid Maritime for a short remotely-operated vehicle (ROV) campaign for pipeline touchdown monitoring, with work scheduled to start in the third quarter this year.
This contract represents a new client in a new country for Mermaid Maritime.
The second contract, which begins in the fourth-quarter, is for a diving vessel with an ROV carrying out a subsea services project offshore East Kalimantan, Indonesia for an international upstream oil and gas company.
“Mermaid is pleased to highlight that the first contract award is from a new customer in a new country in the Middle East GCC and the second contract award is from an incumbent long term customer in one of its key markets in Southeast Asia,” Singapore-listed Mermaid said.
“This is in line with Mermaid’s strategic initiative to retain its key customers and to seek out new customers in new regions to strengthen its market share and deliver sustainable growth,” it added.