Mermaid Marine scores Woodside contract

Company News

Mermaid Marine Australia Limited (ASX:MRM) has scored a contract from oil and gas giant Woodside Petroleum Limited (ASX:WPL)
 
The marine logistics and supply base services provider will support Woodside’s extensive drilling campaign to be undertaken off the coast of Australia. 
 
Managing Director Jeff Weber says the addition of the company’s newest platform supply vessel strengthens Mermaid Marine’s ability to provide its clients drilling, construction and production support. 
 
While the value of the contract has not been disclosed the deal continues Mermaid Marine’s relationship with Woodside and has been set for 18 months plus options. 
 
Shares in Mermaid Marine rose 1.54 per cent to close at $3.29, before the announcement was made on Christmas Eve.  
 
Mermaid Marine Australia reported a net profit of $60.3 million in the 2013 financial year.