Mermaid Maritime, a Thai-based offshore services company has entered into a joint venture with Singapore's Meitech, part of Indonesia's EPCI contractor Meindo, to target offshore decommissioning work in the Gulf of Thailand
Mermaid said the joint venture - called Mermaid-MOE JV Co - would provide it with access to Meindo's fleet of vessels and other specialist services which is a synergistic move for both groups to boost their capabilities to service targeted potential projects in the Gulf of Thailand.., Ltd. (“MMJV”), in Thailand.
Mermaid said it intended to use the JV as a vehicle to enhance the provision of its offshore transportation, installation and decommissioning services for targeted potential projects in the Gulf of Thailand.
"MMJV shall comprise Mermaid’s seasoned Thai personnel having a minimum of 10-20 years of working experience in offshore oil and gas operations and offshore facilities construction in the Gulf of Thailand together with MEINDO’s experienced project personnel," Mermaid said Friday.
Worth noting, Mermaid last week also entered into agreements with a subsidiary of the Thai oil company PTTEP to form ZeaQuest, a company that will develop robotics and artificial intelligence (“AI”) technology and provide commercial subsea engineering services.