Offshore services provider Mermaid Maritime has established an Offshore Transportation, Installation (T&I), and Decommissioning services business unit as part of its diversification strategy, targeting work opportunities in the Gulf of Thailand.

Mermaid said on Tuesday that this new business unit comprises seasoned Thai personnel with a minimum of 10-20 years of working experience in oil and gas operations and offshore facilities construction in the Gulf of Thailand.

The scope of services will include new platform and pipeline installation and decommissioning to meet demand from major oil operators in Thailand and the surrounding region.

Chalermchai Mahagitsiri, Mermaid's Chief Executive Officer, said: “The potential for future decommissioning work is expected to increase in 2021 and continue over the next 10-20 years.

“In particular, the Gulf of Thailand has over 400 offshore platforms with an estimated 100 platforms to be approved by the Thai government for decommissioning over the next 10 years.

According to Mermaid, a major oil and gas operator in Thailand has already initiated a decommissioning program for 49 platforms during the period from 2020-2023.

Mermaid has been approved as a qualified bidder to participate in the provision of services for these potential projects.