TTA's arm wins deals worth $14mn
Subtech Qatar Diving and Marine Services LLC, a business unit of Mermaid Maritime Plc, has been awarded three subsea services contracts with new and existing oil and gas development clients operating in the Middle East worth up to US$14 million.
Mermaid is a subsidiary of Bangkok-listed Thoresen Thai Agencies Plc (TTA).
According to TTA's statement, the first two contracts are for Mermaid’s specialised vessel M.V. ‘Mermaid Siam’ and over a period of eight weeks, are worth approximately US$5.8 million. The M.V. ‘Mermaid Siam’ has already been deployed to the Persian Gulf for the first of these assignments.
The third contract is for air diving and other support services over a period of more than two years beginning May 2012. This contract has a potential value of US$8.2 million and will likewise be carried out in the Persian Gulf area.
“The wins we are announcing today are particularly noteworthy, because they validate our on-going efforts to streamline operations across all of our subsea business units with the intention of offering a consistent set of top quality services – and if required, vessels - throughout the geographies in which we operate”, said Bruce M. Gemmell, chief executive officer of Mermaid. “These three contracts are testament that this strategic imperative to develop stronger synergies between our operating units is bearing fruit as we strive to further expand our services into the Middle East and beyond.”
