Mermaid Maritime Public Company Limited has established a wholly owned corporate presence in Delaware to support its planned entry into the United States offshore energy market, initially focusing on the Gulf of America.
The Delaware operation will act as the group’s regional platform for business development, contracting and operational preparation. It will be able to submit commercial bids, enter into agreements with clients and vendors, engage personnel and support possible future marine asset deployments in the United States.
Mermaid Maritime plans to assess opportunities in subsea engineering, inspection, repair and maintenance, and offshore marine services. Its target areas include offshore oil and gas production, subsea infrastructure, decommissioning and offshore energy projects.
The group will use a phased approach during the initial market development stage. A dedicated business development team will be deployed to gather market information and establish relationships with regional operators.
The incorporation and local setup costs will be funded from internal resources. These expenses are not expected to have a material effect on the group’s net tangible assets per share or earnings per share for the financial year ending 31 December 2026.
The company said none of its directors or controlling shareholders has a direct or indirect interest in establishing the US corporate presence, apart from their respective shareholdings, if any, in Mermaid Maritime Public Company Limited.
Further announcements will be issued when material developments occur in the US market entry process, including major tender awards, in accordance with the listing rules of the Singapore Exchange Securities Trading Limited.
