Mermaid Maritime Public Company Limited (the “Company”, “Mermaid Group”), a leading International Subsea Service Group of companies, has announced that its subsidiaries in the Middle East, have secured multiple project awards with the combined value of approximately USD 430 to 500 million.
The subject project awards include the deliver a comprehensive suite of services including diving, inspection, repairs and maintenance as well as subsea cable installation scopes utilizing a number of vessels including our DP2 saturation dive support vessel, and a range of related services (collectively the “Projects”), and commenced as per the planned long-term contract.
“We are profoundly grateful for our clients’ ongoing trust and support, which has driven this significant achievement. These contracts underscore a major growth opportunity for Mermaid and reaffirm our pivotal role within the energy sector’s value chain. These new engagements advance our Group strategy, strengthening Mermaid's position in the industry, ensuring a prosperous path for our stakeholders. This upward trajectory is now firmly in place, directly contributing to sustained long-term growth and a secure future for our dedicated team and their families. Our unwavering commitment to innovation, sustainability, environmental awareness, and excellence will continue to shape Mermaid’s lasting impact on the energy sector.” Mr. Chalermchai Mahagitsiri, Group CEO.
These Projects are expected to contribute positively to Mermaid Group in 2025 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.