DeepOcean wins Reliance contract

DeepOcean has received a Letter of Award from Reliance Industries Limited of Mumbai, India for the provision of a Multi-Purpose Subsea Support Vessel and associated services.

Contract duration is for a three year fixed term starting December 2007 with a further two, one year options. The three year base scope is valued at USD 166 million while the options hold a value of USD 118 million if exercised.