DeepOcean Wins Statoil Decommissioning Contract

DeepOcean AS, a subsidiary of DeepOcean Group Holding AS, won a offshore removal and recycling contract by Statoil in connection with the removal of the SPM C loading buoy at the Statfjord field.  The EPRD contract includes the Engineering, Preparation, Removal and Disposal (EPRD) of the SPM C Loading Buoy. The Work also includes an EPCI (Engineering, Procurement, Fabrication and Installation) delivery of a Base Protection Structure to be installed on the field after the buoy has been removed. The buoy has a height of 181m and a gross weight of 8000 tonnes including ballast. The work will start immediately and the buoy is scheduled for removal and tow inshore during summer of 2012. The buoy will thereafter be dismantled and recycled. The contract has a value of more than 170MNOK.