MOS Awarded Services Contract with $19m Value

Mermaid Maritime Public Company Limited is pleased to announce that its subsidiary Mermaid Offshore Services Ltd. (“MOS”) has been awarded a call off contract for subsea remotely operated vehicle (“ROV”) services in Thailand serving major upstream oil and gas operators.

The contract award has an estimated value of USD 19 million for an initial period of 2 years. The contract, which provides for Mermaid to serve customers in the Gulf of Thailand, requires the use of 2 ROV support vessels simultaneously and will utilize ‘Mermaid Sapphire’ and a vessel of opportunity. The duration of the contract is approximately 75 days for each vessel through 2016.