Mermaid units lower rates for extension and existing contracts

SINGAPORE (Oct 11): Mermaid Maritime says associate Asia Offshore Drilling has won a short-term contract extension to end December for its jackup drilling rig AOD III with a repeat client from the Middle East.

The extension was for the continuation of a current contract at a lower rate and would add US$8.4 million ($11.6 million) in additional contract backlog.

AOD is a JVCo. between Mermaid and Seadrill. Mermaid owns 33.76% of AOD while Seadrill owns the remaining 66.24%.

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