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Mermaid Maritime announced that its subsidiary, PT Seascape Surveys Indonesia, has been awarded a two year contract, with a one year option, to provide offshore Inspection, and Repair and Maintenance services to a major Indonesia based upstream oil and gas operator.

The company Mermaid will perform this operations to has not been disclosed.

The estimated contract value for the initial term is $55 million and will utilize the Indonesian flagged DP2 vessel, M.V. ‘Endeavour’, which is on long-term charter to Seascape.

“This marks another important step in the development of Seascape, as we further expand our service offerings into diving services based on the demand for our services from the Indonesian market”, said Mr. Chalermchai Mahagitsiri, Chief Executive Officer of Mermaid.