Maridive Renews $44 million Contract in Venezuela

Big 5

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.