Mermaid Maritime Acquires Work-Class ROVs from Argus Remote Systems

16 April 2025

(Image credit: Argus)

Mermaid Maritime Public Company (Mermaid) has announced that its wholly owned subsidiary, Mermaid Subsea Services (Thailand) Limited (MSST), has entered into a sale and purchase agreement with Argus Remote Systems AS (Argus) in Norway for four newbuild state-of-the-art Argus electric work-class remotely operated vehicles (WROVs). Delivery of the four newbuild WROVs is scheduled for the third quarter of 2025.

MSST, a Thailand-incorporated company, is a leading international provider of subsea and offshore services. It specializes in subsea and cable installation, incorporating marine operations, SAT/AIR diving, engineering, ROVs, and survey services. MSST is headquartered in Thailand, with operational bases in the Middle East, the United Kingdom, Africa, and Southeast Asia.

Argus, a Norway-incorporated company, specializes in the development and manufacturing of electric remote-operated vehicle systems, ranging from small inspection vehicles to big, heavy WROVs. Argus’s main customers are the aquaculture, oil and gas, military, and research industries.

The Acquisition represents a firm commitment by MSST to continue its provision of turnkey sub-sea engineering services globally. This strategic investment will strengthen MSST’s operational capabilities, enabling Mermaid to support subsea projects with increased efficiency and precision to meet the evolving demands of the offshore energy sector.