DeepOcean Group Secures Major Permanent Reservoir Monitoring (PRM) Project for Statoil

DeepOcean UK, Ltd., a subsidiary of DeepOcean Group Holding BV, today announced an award from Statoil AS for the installation and trenching of a Permanent Reservoir Monitoring (PRM) System on the Snorre oil field in the North Sea, Norwegian Sector. The project represents DeepOcean UK’s largest ever contract award.

The multi-year project commences in 2013 and consists of the installation and trenching of circa 500km of subsea seismic cables and associated riser in water depths in excess of 300m. Once installed, the large seismic monitoring array will assist Statoil in increasing oil recovery from the Snorre reservoir throughout the field’s life.

This award builds on DeepOcean’s extensive track record in the installation and trenching of PRM systems.

Tony Inglis, DeepOcean UK Managing Director, states “We are delighted to be performing this work for Statoil and assisting them with their first major Permanent Reservoir Monitoring system.”

About DeepOcean

DeepOcean is an integrated provider of safe, high quality, innovative services and technologies for the subsea industry. Demonstrating an extensive track record, DeepOcean offers a breadth of subsea services including Survey and Seabed-mapping, Subsea Installation, Seabed Intervention, Inspection, Maintenance and Repair (IMR), and Decommissioning.

This strong portfolio of services, coupled with a fleet of owned and controlled specialised equipment and multi-purpose support spreads, enables DeepOcean to bundle its subsea services to deliver cost-effective, tailored solutions to meet individual client needs.

DeepOcean strives for relentless customer focus and operational excellence, which is supported by a global team of highly professional and experienced project teams. The company delivers innovative engineering solutions and turnkey project management for complex offshore operations.

The company is a leading IMR contractor and trenching operator in Norway and the North Sea and has a global presence with offices in Norway, UK, the Netherlands, Brazil, Mexico and Singapore.