DeepOcean Enters Offshore Geotechnical Market

DeepOcean Group Holding BV (“DeepOcean”) announces that the company has made the decision to enter the market for Offshore Geotechnical Services.

The Company has acquired a geotechnical drilling rig and entered into a Strategic Alliance with Geoquip Marine AG for the provision of Geotechnical Services in the Greater North Sea and collaboration world-wide.

“The Offshore Geotechnical Services market is undersupplied and DeepOcean through its strategic alliance with Geoquip and its relationships with key customers worldwide, is well positioned to become a preferred geotechnical service provider and a viable alternative to the current segment leader in the Greater North Sea”, says DeepOcean CEO Bart Heijermans. “We have several vessels in our fleet of 14 owned and chartered vessels that can deploy the geotechnical drilling rig and we are targeting a number of opportunities in the offshore renewables and oil & gas sectors to get this important initiative started”, Heijermans continues.

“DeepOcean is the ideal alliance partner”, says GeoQuip Marine AG CEO Andrew Wright. “The synergies between the two companies will result in being able to offer clients high quality seabed drilling and testing services particularly in deep water and in challenging environments such as the Arctic and will provide much needed global competition ”, Wright continues.

The new rig is a heave compensated, offshore geotechnical deepwater drilling rig built and commissioned in 2011. The rig is capable of operating in water depths over 600 metres and drilling with a combined water and borehole depth of 850 metres.

Press Release, February 12, 2014