Mermaid Offshore Services buys two Triton XLX ROVs

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BANGKOK, THAILAND — Mermaid Maritime subsidiary Mermaid Offshore Services has purchased two Triton XLX class ROVs from Aquanos Ltd for GBP 3.7 million (US$5.3 million). The purchase includes the assignment of a client contract for one of the ROVs.

The ROVs are scheduled to be delivered to Mermaid Offshore Services by Feb. 27.

The two Triton XLX ROVs have water depth capabilities of up to 3,000 meters (9,842 ft). One three-month old ROV is operating on a contract with a potential value of GBP 500,000 (US$713,572) scheduled to expire in June 2009, while the second new ROV is on standby ready for work. Both include manufacturer warranties.

The purchase allows Mermaid to enter the deepwater and ultra-deepwater ROV markets. Mermaid believes that the units will be used by engineering, procurement, installation and commissioning contractors for ROV intervention and inspection and by deepwater MODU operators who may place the ROVs on rigs on a full time basis.

www.energycurrent.com

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