Subtech Qatar wins contracts worth US$30m

Company to support offshore oil and gas fields in Qatar and Thailand.
Subtech Qatar, NEWS

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Subtech Qatar Diving & Marine Services LLC, a subsidiary of Mermaid Maritime, has been awarded US$30 million worth of subsea contracts to support offshore oil and gas fields in Thailand, Sakhalin and Qatar.

The scope of services in these contracts, which are scheduled for completion this year, include air diving, saturation diving, salvage, heavy lift and remotely operated vehicle (ROV) intervention. Most of these projects will also utilise Mermaid’s DP2 barge Mermaid Siam.

Also included in this suite of contract awards is a contract for laying of subsea cables and associated installations performed by Subtech’s newly established subsea cable lay division, being the first contract of its kind performed independently by Subtech.

Subtech has also recently established a specialised ROV division to promote the company’s ROV services to offshore oil and gas companies in the region.

“The establishment of Subtech’s subsea cable lay division represents the next step in the growth of our service offerings in the region given the growing demand Subtech has observed in this service area,”said Chalermchai Mahagitsiri, Mermaid chief executive officer.

“Furthermore, Subtech’s establishment of a specialised ROV division will complement Mermaid’s existing ROV business by promoting our fleet of 16 ROVs to the region.

Paul Whiley, executive director of Mermaid’s Subsea Group, added: “We thank our valued clients for once again expressing their confidence in Mermaid in the form of these awards.

“Our growth remains within our core areas of historical focus and we are proud to continue to offer the same level of quality of services that has accounted for our success to date. We are also committed to ensure that our new subsea cable lay division will offer the same level of service quality to our clients.”

Mermaid owns 49% of Subtech Qatar through its wholly owned subsidiary Subtech Ltd which also has a 97% right to profits in Subtech Qatar with full operating and financial control.

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