Mermaid Projects Award USD 170-265 MILLION

Source: www.gulfoilandgas.com 7/19/2022, Location: Middle East

Mermaid Maritime Public Company (the “Company” together with its subsidiaries, correctly referred to as “MermaidGroup”), a leading International Subsea Service Group of companies, is pleased to announce that its subsidiaries in Thailand, the Middle East and United Kingdom have secured multiple project awards with the combined value ranging between USD 175-265 Million.

The subject project awards include cable laying installation, inspection, repair and maintenance, decommissioning, and a bouquet of related services (collectivelythe “Projects”) Work on which has already commenced, and is planned, subject to certain options, to complete in late in 2025.

“We would like to thank our clients for expressing their ongoing faith in Mermaid with these significant awards. They represent solid growth for us in all segments, and serve specifically to auger a solid base for Mermaid’s continued success. Most importantly, bothfor stake holders and Mermaid employees alike, the subject interventions offer vital life’s blood in terms of our near, and intermediate planning as Mermaid actively and carefully navigates our way clear of the pandemic, and through the upcoming Energy transition. Exciting space right now. Forward!” Chalermchai Mahagistsiri – Group CEO.

Barring any unforeseen circumstances, these Projects are expected to contribute positively both to Mermaid Group’s earnings per share, and to the net tangible assets holdings of the Group for the financial year ending 31 December 2022 and beyond.

None of the directors or controlling shareholders of Mermaid Group has any interest, whether directly or indirectly, in the Projects, other than through their respective shareholdings in Mermaid Group.


United Arab Emirates >>  9/26/2022 - Petrofac, a leading provider of services to the global energy industry, has been awarded a two-year Field Maintenance Services contract extension with...
Japan >>  9/20/2022 - ? Two stoker-type incinerators will provide waste processing capacity of 210 tpd
? Lighter environmental footprint and enhanced generation effic...


United Kingdom >>  9/15/2022 - Petrofac, a leading provider of services to the global energy industry, has secured a three-year contract extension for maintenance services from Se...
Brazil >>  9/14/2022 - New service and repair work has been completed by marine engineering and maintenance specialist Royston on essential diesel power units onboard the wo...

Denmark >>  9/12/2022 - Pioneering Spirit is on her way to Frederikshavn, Denmark to deliver two more jackets for recycling. Our record-breaking construction vessel removed ...
United States >>  9/12/2022 - KBR has been awarded a $38 million contract by Defense Logistics Agency (DLA) to provide maintenance support and sustainment of Automated Fuel Handlin...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.