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Mermaid Maritime clinches $55m subsea job

Mermaid Maritime clinches $55m subsea job
Mermaid Maritime has clinched a subsea service job worth around $55m from a major Indonesia-based upstream oil and gas operator.

The two-year contract, with a one year option, will put Mermaid Maritime's DP2 remotely-operated vehicle (ROV) offshore support vessel into action, offering inspection, repair and maintenance (IRM) services to the upstream operator.

Meanwhile, Mermaid Maritime has also sold its 31-year-old subsea utility vessel Mermaid Performer to Prospect Marine Limited for $670,000.

Mermaid Maritime said the marketability in recent years of this type of vessel has been declining, and the sale is part of the company's fleet renewal plan.

TAGS: Offshore