Mermaid secures contract extension in Middle EastContracts, Tenders and Rates // September 26, 2017
Mermaid Maritime has secured a contract extension worth approximately US$96 million from an unnamed oil major.
The contract was awarded to a joint-venture company formed between Mermaid and local offshore services operator in the Middle East. The contract extension duration is for a firm one year plus a one-year option.
The contract is for inspection, maintenance and repair services. Mermaid will continue to provide a suite of diving services using its modern DP2 saturation dive support vessel Mermaid Asiana along with remotely operated vehicles, specialized diving equipment and divers.
Work is due to get under way under thc extended contract in the fourth quarter of 2017.