DeepOcean Group Holding AS wins project for COOEC in South China Sea

Darlington, UK – March 30, 2012 – CTC Marine Projects, Ltd., a subsidiary of DeepOcean Group Holding AS, today announced the award of a major trenching contract for COOEC on the Liwan 3-1 Project in China located 350 kilometres offshore Shenzhen, China.

CTC will be responsible for the trenching of approximately 174 kilometres of 30-inch pipeline from the Shallow Water Host Platform of the Liwan field development in water depth of 205 metres. For this workscope, CTC will use the MSV Volantis equipped with two ROVs and the world’s most powerful jet trenching ROV, the 2.1 Megawatt UT-1 Trencher.

Tony Stokes, Director of Asia Pacific for CTC, states, “This project, along with the recently completed project with the Volantis and UT-1 in South Korea, shows the demand for CTC’s trenching technology in the thriving South East Asia region. We look forward to a successful campaign and are very pleased to cooperate with COOEC Subsea on such an epic project.”


###

About Deep Ocean Group
DeepOcean Group is an integrated provider of comprehensive subsea engineering solutions and has a demonstrated track-record in highly-engineered, complex subsea construction projects for the oil & gas, offshore wind and telecommunication industries. The company has a capable fleet of subsea vessels, ROVs, and trenching assets. DeepOcean Group strives to be among the safest subsea operators in the industry and its relentless commitment to safety for its employees without sacrificing quality service for its customers, distinguishes the company from its peers. The company is a leading IMR contractor and trenching operator in Norway and the North Sea, with an unparalleled track record in engineering and project management, and has a global presence with offices in Norway, UK, Brazil, Mexico and Singapore.

For further information, please contact:

Laura Hall
Marketing Manager
Email: LHall@deepoceangroup.com
Phone: +44 (0) 1325 390 500

Frank Eggink
Chief Financial Officer
Email: FEggink@deepoceangroup.com
Phone: +44 (0) 1325 390 500