The initial two-year engagement will net the company an estimated $US19 million ($A20.16 million) and provide for the use of two ROV support vessels, which will be utilised simultaneously for about 75 days in 2016.
Mermaid's Sapphire vessel will provide support for its deepwater work-class ROVS, as well as an option inspection class ROV.
The Sapphire is also equipped with subsea inspection data acquisition tools and data management systems.
The contract is a call-off arrangement in which the relevant upstream oil and gas operators involved in the deal will purchase Mermaid's services stretched out over the two-year period.
