Thailand-headquartered subsea and offshore drilling services company Mermaid Maritime Public Company Limited has secured multiple project awards in the Middle East that have a combined value of approximately $430 to $500 million.
The awards cover the delivery of a comprehensive suite of services, including diving, inspection, repairs and maintenance, as well as subsea cable installation scopes using a number of vessels, and a range of related services.
The company’s subsidiaries in the Middle East were awarded the work.
“We are profoundly grateful for our clients’ ongoing trust and support, which has driven this significant achievement. These contracts underscore a major growth opportunity for Mermaid and reaffirm our pivotal role within the energy sector’s value chain,” said Chalermchai Mahagitsiri , Mermaid Group CEO.
“These new engagements advance our Group strategy, strengthening Mermaid’s position in the industry, ensuring a prosperous path for our stakeholders. This upward trajectory is now firmly in place, directly contributing to sustained long-term growth and a secure future for our dedicated team and their families.”
Mermaid Maritime earlier this year purchased four work-class remotely operated vehicles (WROVs) from Norway’s Argus Remote Systems, with the total consideration of approximately €11 million.
Delivery is scheduled for the third quarter of this year.