By Company Press Release

CTC Marine Projects (a DeepOcean ASA subsidiary) has been awarded a LoFS contract by StatoilHydro as part of the Snorre FSM (Focused Seismic Monitoring) pilot project.

The work will take place in the Norwegian sector of the North Sea utilising CTC's Volantis newbuild vessel and PT-1 trencher. The work scope will involve the simultaneous lay and trenching of two 5km seismic cable arrays, with additional lay and trenching works to be carried out on 4.0 km of lead-in cables.

The work will take commence in May 2008 with an expected duration of 21 days.