MMA Ink OSV Charter with BHP Billiton Petroleum

Mermaid Marine Australia Limited (MMA) awarded offshore marine support contract for FPSO operations off NW coast of Australia.

The vessel to service the contract, the Mermaid Cove is currently under construction in Singapore, and will commence operations in 2013 in the meantime, Mermaid Supporter will act as lead in vessel until the Mermaid Cove is delivered.

The contract, with a value in excess of A$50 million is for an initial period of five years, with contract upside should the two additional one year options be exercised by the Company.

The Mermaid Cove is a 53m DP2 Offshore Support Vessel (OSV) and a sister ship to the 53m Mermaid Strait and 50m Mermaid Sound. She shares design features with her sister vessels that enable her to work in close quarters operations to tankers during FPSO offtake operations. She is a technically sophisticated vessel and is powered by an environmentally friendly diesel electric drive system providing fuel and cost efficiency.

This OSV will be the first to operate off the NW Shelf to be fitted with a 10m daughter craft as well as a 7m fast rescue craft, which will significantly increase the vessels capability as a search and rescue and emergency response vessel.

The Cove will also be equipped to undertake oil dispersant and recovery operations. MMA Managing Director Mr Jeff Weber said: “The Mermaid Cove is a class leading, innovative vessel that further adds to MMA’s production support capability. We are very pleased to continue to support BHP Billiton’s offshore operations”.