Bangkok-based Mermaid Maritime has established a new business division that will focus on offshore transportation, installation and decommissioning work.
It says that this new business unit’s immediate target is potential work opportunities in the Gulf of Thailand, “with emphasis on delivering international service excellence using qualified local content”.
The scope of services shall include new platform and pipeline installation and decommissioning to meet demand from major oil operators in Thailand and the surrounding region.
“The potential for future decommissioning work is expected to increase in 2021 and continue over the next 10 to 20 years," Mermaid chief executive Chalermchai Mahagitsiri said.
"In particular, the Gulf of Thailand has over 400 offshore platforms, with an estimated 100 platforms to be approved by the Thai government for decommissioning over the next 10 years.
“With this initiative by Mermaid, we have become the first Thai-owned and Thai-operated services company in the Offshore Transportation, Installation and Decommissioning sector having the capability to deliver services of an international standard using qualified local content for the Thailand market.”
The company revealed that a major oil and gas operator in Thailand has already initiated a decommissioning programme for 49 platforms during the period from 2020 to 2023, and Mermaid has been approved as a qualified bidder to participate in the provision of services for these potential projects.
Mermaid, a 58.2 %-owned subsidiary of TTA, is listed on the Singapore Exchange. It specialises in subsea and offshore drilling services, with multiple operation bases in South East Asia and the Middle East.
Its subsea division owns and operates four diving support vessels, a maintenance and construction vessel, an anchor handling tug supply unit and an research survey vessel.
A chartered diving support vessel is operated by the company’s Indonesian division.
