Trico Marine Services, Inc. (the "Company" or "Trico") today announced new contract awards of approximately $40 million in value. All of the contracts were with Trico Marine Group's subsea services company, DeepOcean AS, or its subsea protection company, CTC Marine.
Multiple contracts awards included the following:
• CTC Marine was awarded by Norddeutsche Seekabelwerke GmbH (NSW), an offshore renewable installation, trenching and connection contract of approximately 80 infield array cables on the BARD Offshore 1 Wind Farm Project in the North Sea; and
• Deep Ocean was awarded a long term frame agreement for subsea services with a major oil company involving firm work for 3 annual campaigns covering structural and pipeline inspection in Norway.
Mr. Compofelice, Chief Executive Officer of the Trico Marine Group, commented: "The BARD project award reflects our strong position in the offshore renewable installation through CTC Marine. Offshore wind is a UK industrial priority and we expect to play a strong role in the offshore wind supply chain." He concluded: "As previously indicated, the levels of tendering activity we are seeing within DeepOcean and CTC Marine lead us to be cautiously optimistic for our subsea outlook from the second quarter in 2010 and beyond."