Mermaid Maritime secures up to $500m in Middle East subsea contracts

Mermaid Maritime has landed a series of Middle East project awards worth between $430m and $500m, covering diving, inspection, repairs, maintenance and subsea cable installation. The work will be delivered by its regional subsidiaries using multiple vessels. CEO Chalermchai Mahagitsiri said the contracts mark a major growth opportunity, reinforcing the company’s strategic position in the energy sector. Earlier this year, Mermaid invested €11m in four new work-class ROVs to boost operational capacity.

Read the full article for more on the contracts and growth plans.