Thailand-headquartered subsea and offshore drilling services company Mermaid Maritime Public Company Limited has established a joint venture (JV) company in Nigeria dedicated to subsea services in the oil & gas industry.
The new entity will be named Mermaid Subsea Services Limited, with 49% held by Mermaid Subsea Oil and Gas Services DMCEST and 51% by Marine Platforms Limited (MPL), an indigenous Nigerian oilfield services company established in 2001.
The JV's primary activity is to enable direct operational engagement with TotalEnergies Nigeria and other oil & gas majors while meeting all local content, regulatory, and contracting requirements, Mermaid Maritime reported.
MPL provides subsea EPIC development and solutions, as well as ROV support services, well services, and vessel chartering, offering local market knowledge, regulatory support, and operational capabilities for projects within Nigeria.
According to Mermaid Maritime, the investment is funded from internal resources.
This comes after the company established joint ventures in Taiwan, Equatorial Guinea, Brunei and Singapore.