Thai-based offshore services provider Mermaid Maritime has said it has launched a business branch focused on offshore transportation, installation and decommissioning.
Mermaid said Tuesday its 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 new business has been established by Mermaid Maritime's subsidiary Mermaid Subsea Services, as part of its diversification for growth strategy.
Mermaid also said that major oil and gas operator in Thailand has already initiated a decommissioning program for 49 platforms during the period from 2020-2023 and that Mermaid Subsea Services has been approved as a qualified bidder to participate in the provision of services for these potential projects.
"This new business unit comprise[s] seasoned Thai personnel with a minimum of 10-20 years of working experience in oil and gas operations and offshore facilities construction in the Gulf of Thailand. 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," Mermaid Maritime said.
Chalermchai Mahagitsiri, Mermaid’s Chief Executive Officer said:"The potential for future decommissioning work is expected to increase in 2021 and continue over the next 10-20 years. 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.”