Mermaid wins subsea, IRM work offshore Middle East

Offshore staff

BANGKOK, ThailandMermaid Maritime Public Co.’s Western Hemisphere business unit has secured work for seven subsea projects in the Middle East with an estimated combined contract value of $11 million.

The work scopes include subsea survey, inspection, repair and maintenance and light construction, in various areas offshore Qatar and Saudi Arabia such as Manifa, Safaniya, Zuluf, and Tanajib.

Most of these projects should be completed by the end of August.

Mermaid’s DP-2 DSV Mermaid Endurer started working off Qatar on a light construction intervention on May 8. Estimated during of the program is around 100 days.

Additionally, the chartered-in DP-2 construction barge Mubarak Supporter has completed a cable laying campaign, and will demobilize in Saudi Arabia shortly.

Mermaid’s associate company Asia Offshore Drilling (AOD) has secured a three- month interim contract extension for its jackup AOD I, which is now committed until July at a day rate of $125,000.

The contracts for the jackups AOD II and AOD III are due to expire in July and October respectively, but with a day rate of $125,000 in effect from January 2016.

These are all high-spec rigs built by Keppel FELS in Singapore based on the MOD V B-Class design. All have been on long-term drilling contracts since 2013 offshore Saudi Arabia, with extension options.

According to Mermaid spokesman Chalermchai Mahagitsiri: “The rigs had undergone customization at client expense to suit working conditions and workplace configuration and have achieved high operational efficiency, safety, and reliability since commencement of their respective drilling programs to date.”

06/01/2016

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