Deep Ocean Group Holding AS Expands Service Offering with Statoil

Thursday, Jan 26, 2012

DeepOcean Wins Light Construction and ROV Survey Contract from Statoil

DeepOcean Group Holding AS, (“DeepOcean Group” or “the Company”) an integrated provider of subsea engineering and trenching services, today announced that DeepOcean AS (“DeepOcean”), a subsidiary of DeepOcean Group, has been awarded a long-term frame agreement for offshore survey services for Statoil.

The four-year frame agreement, plus two one-year options, includes services covering light construction, ROV surveys with hull mounted Multi Beam Echosounder (MBE) and ROV surveys without MBE.

As part of this contract, Statoil has also awarded DeepOcean the first call-off for light construction services work on the Norwegian continental shelf. This call-off has a firm duration of six months with six one-month options included. The project will commence March 1 and it will be executed from the survey and light construction support vessel Volstad Surveyor. The project will be lead by an onshore project team in DeepOcean’s Haugesund office.

“This contract has been a key target for DeepOcean and we are pleased that Statoil has once again placed such confidence in our company and the quality of the work our organisation delivers,” says Mads Bardsen, the President of DeepOcean. “With this latest contract, we currently have four vessels working for Statoil through 2012,” he says.

Source: Deep Ocean