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KD Marine enter into Alliance Agreement with Mermaid Offshore Services

18 January 2010

KD Marine and Mermaid Offshore Services (MOS) are pleased to announce that they
have jointly entered into an Alliance Agreement which will enable KD Marine to
provide fully integrated Saturation, Air diving, Daughter Craft and ROV services
from the advanced DSV the ‘Mermaid Endurer’ in the European market. KD Marine
will act as the lead contractor in the Alliance, providing the diving and project
management services whilst MOS will provide the DSV, Marine and ROV services.

The Mermaid Endurer is a 95 meter dynamically positioned DSV which is being built
in the Bergen Group BMV shipyard in Bergen, Norway and which features an
integrated 300 meter saturation diving system, integrated air dive and ROV Systems,
100 ton crane and 1,000 square metre work deck space. It is scheduled to be delivered
to MOS in the first half of the 2010 calendar year and, in addition, it is intended that
KD Marine will install their purpose built Daughter Craft and launching system on the
Vessel. This system has been designed by KD Marine to enable simultaneous Air
diving and/or Inspection ROV Support activities to be carried out whilst similar
operations are also being carried out from the principal support vessel, and the
combination should provide meaningful productivity gains, especially on restricted
work sites.

KD Marine commissioned the build of two such Daughter Craft units for delivery in
2009, complete with dedicated heavy weather launch & recovery systems. These
Daughter Craft units, unlike conversions, have been specifically designed to provide a
stable ancillary work platform to a DSV and they feature onboard gas storage, fully
enclosed dive control, data recording areas, and Inspection ROV handling.

KD marine was established in 1989 and has been providing diving services in the
North Sea since that time to a wide range of Oil & Gas companies and contractors. It
has a fleet of Zone II Nitrox Air diving systems and has focussed on providing totally
project managed diving support to clients with either limited access work sites, or
limited time programmes. The company places heavy emphasis on pre planning and
project management and has built up a strong multi-skilled workforce.

MOS, a wholly owned subsidiary of Singapore listed Mermaid Maritime PCL., is an
established provider of sub-sea inspection, repair and maintenance services, light
construction services, emergency repair and call out services. It is recognised by the
industry for its high quality services, delivered safely and efficiently, and has
developed a strong blue chip client base that includes some of the world’s largest oil
and gas related companies. The company is headquartered in Thailand and controls its
Asia & Pacific operations from here. In recent years MOS has expanded its
geographical foot-print through strategic alliances and acquisitions, and now offers its
sub-sea engineering services throughout the Middle East, the Americas and Europe
Its fleet consists of nine (9) sub-sea vessels, five (5) of which are DPII and four (4) of
which have integrated sat diving systems. MOS owns and operates all its vessels as
part of a ‘one stop’ solution utilizing a highly skilled workforce and other key assets,
including four (4) saturation diving systems (inclusive of those systems in the current
new build program), ten (10) offshore air diving systems and fourteen (14) ROV
systems including deepwater and ultra-deepwater heavy construction class systems.

Hamish Petersen, MD of KD Marine said;
“Throughout the development of the Company, we have been striving to maximise on
installation based diving efficiency for our clients with restricted access work sites.
This has led us to design and build a number of specialist deployment platforms and
latterly, two purpose built Daughter Craft Support units. We are delighted to be able
to now offer our clients a vessel based, fully integrated Saturation, ROV, Daughter
Craft and Air Diving solution in collaboration with Mermaid Offshore, all from a
brand new ‘state of the art DSV – the ‘Mermaid Endurer’.

Mark Shepherd, of Mermaid Offshore Services said;
“Mermaid Offshore Services has a broad range of offshore assets in the Diving
market and is committed to the expansion of these services through the addition of
new ‘state of the art’ units. We have for some time been looking at how we might best
deploy these services in the North Sea market and were only prepared to do so if we
could find a ‘like minded’ partner. We are confident that with KD Marine we have
found such a partner who places similar emphasis on safety and service, and we
greatly look forward to working together”