DEEPOCEAN AWARDED CONTRACT BY REPSOL FOR YME BETA NORTH TIE-BACK

Haugesund, Norway – 24th June 2020 – DeepOcean AS, (DeepOcean), has been awarded an EPCI contract for performing marine operations in connection with Repsol’s tieback of YME Beta North reservoir to existing facilities.

The award to DeepOcean covers project management, engineering, construction and offshore installation activities. The offshore work includes marine operations for installation and tie-in of Subsea spools, flying leads and installation of Subsea Structures at the YME Beta North field. Preparations for start of production for the YME Beta North tie-back are also included in the contract.

The onshore project team will work out of DeepOcean’s office in Haugesund, with offshore execution scheduled for 2021.

DeepOcean’s Commercial Director for Deepocean Europe, Rolf Ivar Sørdal, said:

“DeepOcean is continuously working hard to develop efficient solutions for our customers and to deliver as promised. This award is a true recognition of our achievements, all founded on our dedicated workforce and their flexible and cooperative mindset during project execution.

The project fits very well with our capabilities and construction vessel fleet, and we are pleased that Repsol again has trusted us with this exciting award. DeepOcean is looking forward to cooperating with Repsol to deliver a successful and safe project”.

 

 

Edda Freya

 

About DeepOcean

DeepOcean is a leading, subsea services provider, servicing any equipment with specialised expertise. We serve the Oil and Gas and Offshore Power markets with Inspection, Maintenance and Repair, Subsea Construction, and Project Management and Engineering through Life-of-Field from inception to decommissioning. We deliver value to 3 subsea markets; Inspection, Maintenance and Repair, Subsea Construction, Cable Lay and Trenching with State-of-the-art vessels, over 50 ROVs, 12 subsea intervention assets, and an in-house tool manufacturing and extensive ready to use tool pool. The company has offices in Norway, UK, US, Mexico, Ghana, Congo, and France. We are globally recognized, locally differentiated.

For further information: www.deepoceangroup.com

 

About Triton 

Triton is an international investment firm, founded in 1997. The company seeks to contribute to building better businesses for the longer term through partnership.

Triton invests in medium-sized businesses with management located in Europe that fall within the Industrial, Business Services, Consumer and Health sectors.

Triton funds’ approximately 180 investors include, among others, pension funds, sovereign wealth funds, insurance companies and endowments. Triton includes environmental, social and governance criteria into investment considerations and decision-making processes which help to capture long-term value.

Since its founding, Triton has completed more than 70 investments and supported more than 260 acquisitions.

For more information, please visit: www.triton-partners.com​​​​​​​