MERMAID MARITIME PUBLIC COMPANY LIMITED
บริษทั เมอร์เมด มาริไทม์ จากดั (มหาชน)
(Reg. No. 0107550000017)
26/28-29, 9th Floor Orakarn Bldg.,Soi Chidlom, Ploenchit Road, Lumpinee, Pathumwan, Bangkok 10330, Thailand.
Tel.: +66 (0) 2-255-3115~6; Fax: +66 (0) 2-255-1079
MERMAID’S SEASCAPE UNIT CHARTERED-IN A NEW SUBSEA VESSEL AND AWARDED SUBSEA SERVICES CONTRACTS WITH COMBINED ESTIMATED VALUE OF USD 28 MILLION
Mermaid Maritime Public Company Limited ("Company") wishes to announce that its subsidiary PT Seascape Surveys Indonesia ("Seascape") has entered into a three (3) year charter-in contract with Miclyn Express Offshore (“MEO”) for a new build DP2 vessel, the M.V. ‘MEO Rover’ (the “Vessel”), which is currently under construction in Batam, Indonesia. The Vessel is expected to be delivered to Seascape in December 2013. Upon delivery, the Vessel will be renamed the ‘Resolution’ and will be under the flag state of the Republic of Indonesia.
Furthermore, the Company is pleased to announce that Seascape has been awarded two (2) new contracts with international upstream oil and gas companies who are existing clients having a total estimated value of USD 28 million.
The first contract is a three (3) year Inspection, Repair and Maintenance (“IRM”) contract and will utilize the DP2 vessel M.V. ‘Endeavour’ for works commencing in July 2013. This contract has a total value of approximately USD 23 million and the duration of the contract is approximately 100 days each year through 2015. The ‘Endeavour’ is on long-term charter to Seascape.
The second contract is for survey and positioning services over a period of three and a half years worth an estimated value of USD 5 million. This contract comprises a six month extension of an existing contract and an additional three year contact award for the same services thereafter.
Seascape is also performing works required on short notice for a subsea wellhead preparation for surface re-entry. This contract has an estimated value of USD 4.5 million and is nearing completion. This contract utilizes the ‘Endeavour’ with Seascape also providing survey/positioning, digital video reporting and ROV spreads. A third party contractor that was contracted directly by the client provided the saturation system and diving personnel. This marks a first that the M.V. ‘Endeavour’ performed diving works.