01/02/2010 - 11:59

Mermaid Marine wins Woodside contract

01/02/2010 - 11:59

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Mermaid Marine Australia has been awarded a two-year contract by Woodside Energy to provide support services for the petroleum company's offshore platforms.

Mermaid Marine wins Woodside contract

Mermaid Marine Australia has been awarded a two-year contract by Woodside Energy to provide support services for the petroleum company's offshore platforms.

The contract also comes with a further one-year option, Mermaid Marine said today, adding that the Mermaid Achiever vessel will fulfil the contract for the initial six months and then be substituted by the Mermaid Searcher, which was delivered last year.

"MMA is delighted to have won this significant production support contract with Woodside," Mermaid managing director Jeff Weber said.

"Woodside is one of our major clients and this award further strengthens our long term contracts in the North West Shelf and reinforces MMA's position as a service provider of choice.

"In recent months we have secured term contracts on five of our vessels ranging from 12 months through to five years in duration. This Woodside contract is a welcome addition to our longer term portfolio and supports our recent fleet expansion."

The Woodside contract value has not been released due to commercial sensitivity.

Shares in Mermaid Marine shed seven cents to $2.57 at 14:38 AEDT.

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