DeepOcean UK, a subsidiary of DeepOcean Group Holding BV (DeepOcean), yesterday announced that the company has been awarded a contract within the Oil and Gas sector for the provision of post-lay trenching services along 65km of umbilical offshore Australia.
The post-lay trenching works are planned to commence late 2018 with the T1 trencher. This contract award has come on the back of three successfully completed projects with this trencher offshore UAE in 2016, early 2017 and more recently in 2018.
As at 30 June 2016, Frontier IP Group Plc (LON:FIPP) have a 3% holding in DeepOcean UK.