TTA sets up two US subsidiaries to expand offshore oil and gas business

Kaohoon··USTH·Read original
2▲1 ▼0Impact / 5
Summary · why it matters

Thoresen Thai Agencies Public Company Limited, or TTA, announced that its subsidiary has established two new companies in the United States to expand its offshore oil and gas business. Mermaid Subsea Services Thailand Limited, or MSST, in which TTA holds direct and indirect stakes totaling 68.39 percent through Mermaid Maritime Public Company Limited, set up Mermaid US Holdings Inc., or MMUH, on August 3, 2026, with registered capital of 100 US dollars. MSST holds all shares and used its internal cash flow as the funding source. The second company, Mermaid Subsea Services US LLC, or MMUS, was registered on the same day to provide services for the offshore oil and natural gas industry, with MMUH holding all shares. The establishment of these subsidiaries does not qualify as a significant transaction under listed company criteria, but results in MMUH and MMUS becoming subsidiaries of TTA.

Impact on assets 1

Energy Transition & Power Demand▲ · 1 stocks

Off-coverage companies 4

Mermaid MaritimePrivate▲ Positive
Capitalrelevance

Mermaid Maritime's subsidiary sets up US entities, expanding offshore business.

Mermaid Subsea Services (Thailand)Private▲ Positive
Capitalrelevance

MSST establishes US subsidiaries to expand offshore business, using internal cash flow.

Mermaid Subsea Services (US) LLCPrivate▲ Positive
Capitalrelevance

Newly formed US LLC to provide offshore oil and gas services, part of expansion.

Mermaid US Holdings Inc.Private▲ Positive
Capitalrelevance

Newly formed US holding company for offshore expansion.

© 2026 MarketIVNews