OCEANTEAM and ABB co-operate on EON Netz HVDC Cable Installation

9/19/2007, 9:55 AM (Source: GlobeNewswire)

Oceanteam Power & Umbilical ASA announced today that under the ABB
co-operation agreement published 14th March 2007, Oceanteam is the
exclusive installation partner of ABB on the EON Netz HVDC export
cable installation.

Yesterday ABB announced that it has signed a contract with EON Netz
GmbH in Germany for Cable Installation Services for the manufacture
and installation of the HVDC export power cable for the BARD offshore
wind park development.

The EON Netz HVDC Development Project, a power cable with a length of
120km from the shore landing at Hilgenriederseil, Germany, across
Norderney island to the BARD offshore wind park. The contract will
be executed in 2009 with the DP 2 CLV Team Oman and Barge Oceanteam

The contract value for Oceanteam is approx Euro 22 million

Oceanteam Power & Umbilical ASA has a long term agreement with ABB
combining manufacturing and installation capabilities for High
Voltage Submarine Power Cables.

The joint capabilities, whereby tendering for specific projects is
done a mutual exclusive basis enables the companies to tender for
complete turn key solution for subsea power cable installation

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