By Press Release

CTC Marine Projects (a DeepOcean ASA subsidiary) has

recently been awarded a contract with a value of over GBP3 million by the China based Offshore Oil Engineering Company (COOEC). The contract is for the provision of

trenching services on the Ledong 22-1/15-1 project, located offshore Hainan Island in the South China Sea.

The scope of work, to be performed in the 2nd

quarter 2008, includes the burial of 56 km of the Ledong 24 inch export pipeline route in challenging soil conditions. CTC's Advanced Pipeline Plough will be used

on the project deployed from the COOEC vessel Hai Yang Shi You 299. COOEC, based in Tianjin, is a subsidiary of the China National Offshore Oil Corporation

(CNOOC).

CTC's Managing Director Tony Inglis said, ‘We are pleased to bring our high performance trenching services to the Chinese Market. Our technology

will enable pipelines in this typhoon affected area to be cost-effectively stabilised and protected in all local soil conditions. We look forward to providing

similar high value-added services both to COOEC and other Offshore Industry partners throughout China and South East Asia in the near future.'