Maridive Renews $44 million Contract in Venezuela

By Yomna Yasser On May 4, 2014

Egypt’s Maridive and Oil Services (MOIL.CA) announced that its Offshore Support Vessels (OSV) unit has been awarded the renewal of a $44 million contract with a client from Venezuela with a significant increase in price from the current contract.

Maridive, the biggest oil services company by fleet size in the Middle East, added in a statement to the Egyptian stock exchange (EGX) that the contract is for the rental of two maritime units which will offer maritime and oil services for 2 years starting from 2Q of the current year.

After this contract, the company’s total signed contracts will increase to a total of $580 million from 2014 until 2018.