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Mermaid Maritime bags $40m subsea work

Mermaid Maritime bags $40m subsea work
Mermaid Maritime's Subtech Qatar Diving & Marine Services has bagged $40m worth of contracts to provide subsea work.

The scope of services in the contracts includes air diving, saturation diving, salvage, heavy lift and remotely operated vehicle (ROV) intervention. Most of the work will utilise the DP2 barge Mermaid Siam.

The suite of contract awards also includes laying of subsea cables and associated installations performed by Subtech's newly established subsea cable lay division.

Most of the jobs are scheduled to be completed by the end of this year.

Mermaid Maritime, a spin-off of shipowner Thoresen Thai Agencies, owns 49% of Subtech.

TAGS: Offshore