Maridive Group Signs Cooperation Agreement with Helix Affiliates (Egypt)

Maridive Group announces that it has signed a Long Term Exclusive Cooperation Agreement with Helix Affiliates via its Owned Company Canyon Offshore for the provision of the following services in Egypt and other area in the region:

Ø Canyon Offshore: ROV, ROVDRILL, Light Construction Vessels, and Trenching Vessels.

Ø Helix Well Ops: Related services for Well Intervention Services.

Ø Helix Subsea Construction: Pipe lay & other subsea activities in the deep water side of Egypt in the Mediterranean Sea, and offshore concessions developments.

Under this agreement, Maridive and Canyon Offshore being an owned company of Helix USA , will perform jointly the required business development plans for the above activities of the Helix Affiliates to take place in the Egyptian Oil and Gas Fields.

Capt. Issa Eleish, the Chairman & Managing Director of Maridive Group commented:

“Entering into this Cooperation Agreement with the Helix Affiliates via its Owned Company Canyon offshore is a significant development for Maridive entire Group and will further enhance our position in the forthcoming developments in the Gas Fields in the Deep Water Side of Egypt and the Mediterranean Sea as well as the special services for the well intervention Market in Egypt and elsewhere”.

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Source: maridivegroup ,February 23, 2011;