DeepOcean Announces Reorganization

Effective 1 January 2015 DeepOcean is organised in two main regions, the Greater North Sea (“GNS”) region and the International region. Ottar Mæland will head up the GNS region as Group EVP GNS. Group support functions such as IT, Procurement, Asset Management, Ship Management and Engineering will reside in the GNS organisation. Mads Bårdsen will lead our activities in the rest of the world including operating regions (Asia Middle East, Brazil, Africa and Gulf of Mexico) as the Group EVP International. Mads and Ottar will report to Bart Heijermans, DeepOcean’s CEO.

The main focus areas of the GNS organisation will be (i) merging and integrating activities in Norway, Netherlands and UK, (ii) retaining and growing market share in IMR and survey segments, (iii) successful introduction of our new vessels, the Edda Freya and our Interconnector vessel, (iii) securing more renewables, interconnector and decommissioning projects and (iv) development of valued added processes and systems to benefit the entire company. The main focus of the International organisation will be to expand our services in Africa, Asia, Brazil, Gulf of Mexico and Middle East.

DeepOcean’s Leadership Team will comprise of the following members: Bart Heijermans - CEO, Dennis de Vreede - CFO, Mads Bårdsen - EVP International, Ottar Mæland - EVP GNS, Ingunn Øvereng Iveland - Group HR Director and Louise Lewin - Senior Legal Counsel.

“This reorganisation will address the following objectives (i) reduction of direct and indirect cost as required to meet weakened demand in our sector, (ii) further strengthening of the marketing and sales of our services and methodologies worldwide and (iii) creation of a more effective company through collaboration and standardization that can be used as a platform to take advantage of opportunities in the current downturn”, says DeepOcean CEO Bart Heijermans. “In addition we believe that through this reorganisation the company will be in an even stronger position to keep providing technical solutions in subsea inspection, repair and maintenance as well as light construction, construction support and survey services, using our high-specification assets to meet and exceed the needs of our valued customers”.

For further information, please contact:

Dennis de Vreede

Chief Financial Officer, DeepOcean Group Holding B.V. Phone: +31 20 2625110