MERMAID SECURES CONTRACT FOR ROV SUPPORT SERVICES WITH PTTEP IN THE GULF OF THAILANDRov Support Services Contract • February 28th, 2010
Mermaid Maritime Public Company Limited (“Company”) is pleased to announce that its wholly owned subsidiary Mermaid Offshore Services Ltd. (“MOS”), one of the region’s leading provider of sub‐sea engineering services to the offshore oil and gas industry, has secured a contract with PTT Exploration and Production Public Company Limited (“PTTEP”) to provide remotely operated vehicle (“ROV”) support services utilizing the newbuild DP2 ROV Support Vessel M.V. “Mermaid Sapphire” to PTTEP’s offshore facilities and offshore fields in the Gulf of Thailand (“Contract”). The Contract is the first major work assignment for this newbuild vessel and is scheduled to commence in the third financial quarter of 2010. The Contract has an estimated duration of sixty (60) days and a potential value of approximately USD 3 million.
