Mermaid's subsea business achieves 5 million man hours without a lost time incident.

Mermaid is pleased to announce that its wholly owned subsidiary Mermaid Offshore Services Ltd. (MOS), a leading provider of subsea engineering services to the offshore oil and gas industry, had successfully achieved a milestone of five (5) million man hours without a lost time incident. This is an indication of the success of MOS's Zero Incident Program (ZIP). Originally focusing on South East Asia, MOS has in recent years expanded the provision of its subsea engineering services to include India, China, Sakhlin, Middle East, Brazil and the United Kingdom Continental Shelf (UKCS). It currently has a fleet of five (5) owned vessels and two (2) chartered-in vessels, one (1) portable saturation dive system, nine (9) air dive systems and fourteen (14) remotely operated vehicles (ROVs). It has on order three (3) additional newbuild vessels, two (2) of which are DP2 saturation dive support vessels and one (1) DP2 ROV/air dive support vessel.