Paul Whiley, Mermaid Maritime’s COO and executive director, says the pandemic was all about survival, sharing that Mermaid Maritime signed any contract that came its way to maintain fleet and manpower utilisation.
Operating in the offshore oil and gas sector for more than 40 years, Mermaid Maritime has experienced its fair share of the industry’s ups and downs, from the boom years of the late 2000s to mid-2010s, when oil prices exceeded US$100 per barrel, to the downcycles of 2016 to early 2020s.
Bangkok-based Mermaid Maritime is a provider of core subsea services, including inspection, repair and maintenance (IRM), infrastructure installation support, remotely operated vehicle (ROV) support, and cable and pipe laying. Previously, the company also offered drilling services but exited the business in 2H2020 when demand for oil cratered during the onset of the Covid-19 pandemic, making the business unsustainable.
