Trico Marine Group Awarded Approximately $40 Million in Subsea Contracts
2010.03.19 -
Contracts
Trico Marine Services, Inc. (Nasdaq:TRMA) (the "Company" or "Trico") today announced new contract awards of approximately $40 million in value. All of the contracts were with Trico Marine Group's subsea services company, DeepOcean AS, or its subsea protection company, CTC Marine.
Multiple contracts awards included the following:
- CTC Marine was awarded by Norddeutsche Seekabelwerke GmbH (NSW), an offshore renewable installation, trenching and connection contract of approximately 80 infield array cables on the BARD Offshore 1 Wind Farm Project in the North Sea; and
- Deep Ocean was awarded a long term frame agreement for subsea services with a major oil company involving firm work for 3 annual campaigns covering structural and pipeline inspection in Norway.
Mr. Compofelice, Chief Executive Officer of the Trico Marine Group, commented, "The BARD project award reflects our strong position in the offshore renewable installation through CTC Marine. Offshore wind is a UK industrial priority and we expect to play a strong role in the offshore wind supply chain." He concluded, "As previously indicated, the levels of tendering activity we are seeing within DeepOcean and CTC Marine lead us to be cautiously optimistic for our subsea outlook from the second quarter in 2010 and beyond."
Cameron (NYSE: CAM) has signed a three-year worldwide preferred supplier agreement with Schlumberger Integrated Project Management (IPM) for the supply of a wide range of flow equipment products and services. As part of the agreement, Cameron will provide Schlumberger IPM with all surface, subsea, drilling, measurement, compression and downstream equipment on a worldwide basis.
ClampOn has been awarded a contract for delivery of five subsea ClampOn DSP Leak Monitors to the Tampen Link project in the Norwegian sector in the North Sea (Sept 07). ClampOn will supply its ultrasonic non-intrusive acoustic Leak Monitors to Technip Norge AS on behalf of Statoil. The Leak Monitors will be retrofitted on two 20” gas valves on the seabed to verify/disprove through-valve gas leakage. These valves are currently open and they will be shut to close off the bypass alternative.
Helix Energy Solutions (NYSE: HLX) announced today that it has received a Letter of Intent ("LOI") for the installation of the subsea infrastructure for the VIC/P44 Stage 2 Development project in the Otway Basin offshore Australia. Participants in the VIC/P44 permit are Santos Limited (Operator) 50%, Peedamullah Petroleum Pty Ltd (Australian Worldwide Exploration) 25% and Mitsui E&P Australia Pty Ltd. 25%.
Velosi Limited Velosi or the Group, a provider of asset integrity and HSE services to a number of major national and multinational oil and gas companies, is pleased to announce that it has been re-awarded a contract from Mobil Producing Nigeria, for the next three years with an option to extend for a further one year.
Fugro has been awarded a contract to perform a detailed marine survey in the Mediterranean Sea to select the best route for the GALSI gas pipeline from Algeria to Southern Sardinia and then from Northern Sardinia to the mainland of Italy. The contract value is approximately EUR 18 million.
