Mermaid wins $15m support contract

Mermaid Marine has announced a $15 million contract with Santos for the oil and gas giant’s Modec floating LNG facility in the Carnarvon Basin.

Mermaid said the offshore marine support contract was for a two year term, with three 12 month options to extend.

Managing director Jeff Weber said the company was extremely pleased to continue its working relationship with Santos on the North West Shelf.

“A key part of our ongoing strategy is to work with quality operators supporting their production facilities through vessels linked to our supply base,” Mr Weber said.

“The Santos MV11 FPSO operation fits perfectly into that strategy and MMA looks forward to working with Santos to make the operation safe and successful.”

AT close of trade, Mermaid shares were up 1.3 per cent, trading at $3.03.