Closing offshore assets transaction GeoSea/DEME- HOCHTIEF

HOCHTIEF is selling all its offshore assets to marine contractor and long-term partner GeoSea. GeoSea acquires full control of jack-up vessels ‘Innovation’ and ‘Thor’ and pontoons ‘Wismar’, ‘Bremen’ and ‘Stralsund’. The vessel ‘Vidar’ will be transferred upon completion of a current HOCHTIEF project. GeoSea also takes over some obligations with regard to personnel.

Luc Vandenbulcke, Managing Director GeoSea: “This transaction is a significant contribution to expand GeoSea’s activities in the European energy market. All assets which transfer as of today are currently employed on GeoSea projects to fulfill the requirements of the order book and meet the increasing demand.”

About GeoSea

GeoSea is a fast growing company specialising in complex offshore marine engineering projects. The company is part of the Belgian DEME Group, active across the globe. GeoSea has participated in the construction of large-scale offshore wind farms including the Alpha Ventus project, the EnBW Baltic 2 wind farm, the Trianel West Borkum II wind farm in German waters, the Westermost Rough project in the UK, the West of Duddon Sand met mast installation in the UK, the Walney and the Ormonde farms in the Irish Sea and the C-Power and the Northwind wind farms off the Belgian Coast. In 2015 GeoSea will undertake works on several offshore windfarm projects as Godewind in Germany and Kentish Flats Extension in the UK. GeoSea’s business also covers more traditional activities such as soil investigation, drilling of large diameter piles and high-tech directional drilling. GeoSea relies on its ability to provide innovative techniques and high operational reliability through high-tech equipment. GeoSea’s jack-up platforms include Innovation, Neptune, Goliath, Vagant, Buzzard, Zeebouwer, Halewijn and Tijl II.