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Mermaid inks joint venture deal to boost offshore services in Thailand

Mermaid Maritime will enter into a joint venture with Meitech Offshore Engineering (MOE) to boost their capabilities in offshore transport, installation and decommissioning in Thailand.

Lee Hong Liang, Asia Correspondent

September 21, 2020

1 Min Read
Gerd Altmann - Pixabay
Photo: Gerd Altmann - Pixabay

The joint venture, Mermaid-MOE JV (MMJV), will be 51% held by Mermaid Subsea Services (Thailand) and 49% held by MOE, a unit of PT Meindo Elang Indah (MEINDO), a EPCI contractor in Indonesia.

The partnership will provide Mermaid with access to MEINDO group’s fleet of vessels and other specialist services for both groups to enhance their services to potential projects in the Gulf of Thailand.

“MMJV shall comprise Mermaid’s seasoned Thai personnel having a minimum of 10-20 years of working experience in offshore oil and gas operations and offshore facilities construction in the Gulf of Thailand together with MEINDO’s experienced project personnel,” Mermaid stated.

Last week, Mermaid announced the setting up of another joint venture company with PTT Exploration and Production (PTTEP) to develop robotics and artificial intelligence technology for us in commercial subsea engineering services.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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