DeepOcean announces split of DeepOcean UK into a seabed trenching division and subsea cables division

Oslo, Norway – 9 September 2019 - DeepOcean Group, (DeepOcean), today announces its intent to split DeepOcean UK into two entities, creating DeepOcean Subsea Cables and a new division with a standalone brand for its world leading seabed intervention and trenching business.

The split and new brand announcement are scheduled to be finalized within 2019. It will see the existing Cable Lay and Trenching division (DeepOcean CL&T) divided into a seabed intervention unit under a new brand and a subsea cable installation specialist; DeepOcean Subsea Cables. Pierre Boyde, Managing Director of DeepOcean CL&T will head the seabed trenching division, headquartered at their world class facilities at Port of Blyth, UK.

Pierre Boyde, said: “This new division will allow, what is already a world leading subsea trenching service to grow by concentrating on delivering exceptional performance from our exceptional vehicles. The move also allows us to meet the demands of our clients by focussing on the delivery of our expanding innovative seabed technology services.”

Steve Marshall, DeepOcean CL&T Operations Director, shall take the role of Managing Director of DeepOcean Subsea Cables and the company will be headquartered in Darlington, UK. DeepOcean Subsea Cables will focus on continuing to deliver cable installation services, and maintenance and repair service, under the Reconnect offering, to the growing offshore energy markets and existing global client base, in the North Sea and beyond.

DeepOcean’s CEO, Øyvind Mikaelsen, said: “DeepOcean is to develop these businesses as standalone units to unlock potential with distinct offerings in an evolving
market place, creating value for all stakeholders. We are excited about the future for the new divisions and how they will help DeepOcean Group expand and strengthen its market offering.”

For further information, please contact:

Mr. Øyvind Mikaelsen
Chief Executive Officer
Phone: +47 22 76 06 00
Email: omikaelsen@Deepoceangroup.com