Oceanteam Power & Umbilical ASA accepted an LOI agreement with N-power Renewables

Oceanteam Power & Umbilical ASA announced today that it has accepted an LOI agreement with N-power Renewables for Cable Installation Services associated with the Rhyl Flats Offshore Wind Farm, due for installation in 2008.

Oceanteam Power & Umbilical ASA announced today that it has accepted an LOI agreement with N-power Renewables for Cable Installation Services associated with the Rhyl Flats Offshore Wind Farm, due for installation in 2008.
 
The contract will be executed in Q2 / Q3 - 2008. The commercial terms between the parties remain confidential.
The Rhyl Flats Offshore Wind Farm, consists of cable installation and trenching services for 3 off Export cables from the offshore wind farm to shore and connecting of 25 offshore wind turbines to be installed on the west coast of the United Kingdom. The contract will be executed in 2008 with an Oceanteam Cable Lay Barge and the new Oceanteam Heavy Duty Plough due to be delivered in December 2007. The estimated contract value is Euro 11 million.
 
About Oceanteam Power & Umbilical ASA
Oceanteam is a niche services provider focused on servicing, installation, trenching and IMR of flexible pipelines, umbilicals and power cables. This includes the provision of subsea services, installation teams, fully operational spreads and time charters. Oceanteam is located in Bergen, Aberdeen and Amsterdam.