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MMA receives PSV order for Ichthys LNG

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LNG Industry,

Mermaid Marine Australia Ltd (MMA) has been awarded a contract for two Platform Supply Vessels (PSVs) for long-term production support operations with INPEX Operations Australia Pty Ltd (INPEX). MMA will operate two newbuild Vard 1 08 PSVs for the INPEX-operated Ichthys LNG project with a fixed term of 5 years plus two x five year options. The PSVs will be built in Asia to INPEX’s specifications, for delivery to MMA in late 2015 and early 2016 respectively.

The PSVs will supply the Ichthys LNG project’s offshore facilities from Darwin and Broome.

The contract value for the firm period is AU$ 160 million at today’s exchange rate, and AU$ 500 million in total should all of the options be exercised.

The award of this contract further extends MMA's strategy of operating PSVs in both the Australian and South East Asian markets. These two newbuild vessels will complement the:

  • Recently delivered ‘Mermaid Leeuwin’ (VARD 05L) which is contracted to Woodside Petroleum for the next 18 months with options to extend.
  • ‘Mermaid Inscription’ (MMC 887) working for Allseas Contractors Australia.
  • ‘Mermaid Leveque’ contracted to Subsea7 for 8 months.
  • ‘Mermaid Vigilance’ recently contracted under a Letter of Intent to operate in Malaysia for 7 months.

MMA’s Managing Director, Jeff Weber, commented: “This contract is a major step forward for MMA […] We are extremely pleased to be able to work with INPEX to support the world class facilities that are being built for the Ichthys LNG project. Production support contracts such as these are critical to our ongoing success in Australia and we look forward to delivering a safe and successful outcome to INPEX.”

Adapted from press release by

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