Trico announced that CTC Marine Projects, the Company's trenching and installation division, has been awarded a contract with a value of $20 million for the North Bardawil Project offshore Egypt for Petrobel which is scheduled to commence in the first quarter of 2009.
Compofelice, the Chairman and Chief Executive Officer of the Trico Marine Group, commented, "The North Bardawil contract award highlights the breadth of services and technology that the Trico Marine Group offers through CTC and DeepOcean. It is significant for CTC as it diversifies their ability to perform work scopes ranging from trenching to a more comprehensive subsea protection services outside of it's original home market in the North Sea. We expect to secure similar projects built around advanced subsea technologies in the future."
This project will utilize the MPSV Volantis, with a permanently installed jet trenching system, a 2000 ton carousel reel for deployment of flexible pipeline and umbilical, a 150 ton heave compensated crane for deepwater construction and the WROV Installer 1 from Trico's DeepOcean Division. The Volantis was delivered in the second quarter 2008.
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