EQUINOR AWARDS DEEPOCEAN SUBSEA CABLE REPAIR FRAME AGREEMENT

Haugesund (Norway) 16 September 2021: DeepOcean AS, a subsidiary of DeepOcean Group Holding B.V. (DeepOcean), has been awarded a frame agreement contract by Equinor for provision of contingency equipment and services for handling of high voltage subsea cables.

The contract has a duration of three years with options to extend the contract with up to four additional years.

The contract covers provision of handling equipment and personnel for subsea high voltage cable contingency operations, such as subsea cutting, retrieval, on deck cable handling for cable repair, and deployment /laying of subsea high voltage cable.

DeepOcean will also provide a core organization to manage the contract and ensure the readiness of the handling equipment. In addition, using DeepOcean’s subsea base facilities at Killingøy to store the equipment is aimed to provide swift mobilisation in a contingency situation.

Although the initial area of operations will focus on Northern Europe, there will be an option to extend operations worldwide dependent on Equinor’s requirements for emergency cable repair preparedness across the globe. Equinor will manage and operate the contract on behalf of the Pipeline Repair and Subsea Intervention (PRSI) pool members who also may call upon services provided by the frame agreement. Various studies may also be provided under the contract.

“The renewables segment and associated electrification of offshore installations is a key focus area for Equinor and many other energy companies. DeepOcean has a clear ambition and strategy to support our clients in their quest for greener energy. We are pleased that Equinor trusts DeepOcean with this award, requiring an agile, flexible and quality-minded organization. We look forward to starting a ’new chapter’ in our relationship with Equinor and we will do our utmost to ensure this relationship is a success.” says DeepOcean’s commercial director for subsea services, Rolf Ivar Sørdal.

For further information, please contact:

Olaf Hansen, Managing Director, DeepOcean AS, phone: +47 924 44 955

Rolf Ivar Sørdal, Commercial Director, DeepOcean AS, phone: +47 950 88 030

About DeepOcean

DeepOcean is an integrated provider of safe, high-quality, innovative services and technologies, providing construction, maintenance, survey and inspection and decommissioning services to the offshore energy industry.

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