Mermaid secures contract extension for subsea services in Middle East worth $129 mil

SINGAPORE (Sept 25): Mermaid Maritime announced that its joint venture (JV) with a local offshore services operator has secured a contract extension for offshore inspection, repair and maintenance services with a national upstream oil and gas company.

The one-year contract extension is worth about US$96 million ($129.4 million) and follows its initial five-year contract period.

Mermaid will continue to provide a suite of driving services with its DP2 saturation dive equipment and divers, while the group’s JV partner will provide other offshore vessel related services and logistics.

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