Oceanteam Wins Offshore Renewable Contract

Oceanteam ASA announced that it had signed a contract with BARD Engineering GmbH for Inter Array Cable Installation Services associated with the BARD Offshore 1 Wind Farm, due for installation in 2009 & 2010. The contract will be executed in Q2 / Q3 - 2009 and Q1 / Q2 - 2010. The commercial terms between the parties remain confidential. The BARD Offshore 1 Wind Farm, consists of a 80 inter array cable installation and trenching programme with 30 WTG's in 2009 and 50 WTG's in 2010. The contract will be executed with the CLV Team Oman and Oceanteam trenching TROV OceanJet 900. The estimated contract value is Euro 24 million.