GROUPE GORGE : ECA Group - Petrus: Significant Partnership and Positioning in Subsea Robotics Services (AUVs and ROV) for the Oil and Gas Market

ECA Group, a Groupe Gorgé company, and Petrus announce today the signing of a cooperation agreement for subsea robotics services to oil companies.

Based in Brazil, West Africa, and South East Asia, Petrus is a global Oil & Gas services group employing approximately 400 people.

After evaluating the market since June 2017, the parties have entered into a partnership agreement to offer the Oil & Gas sector inspection and survey services using an Autonomous Underwater Vehicle: the A18D AUV.

The A18D AUV is designed and manufactured by ECA Group, to dive up to 3000m depth and work autonomously for 24 hours. It can carry out inspection and 3D mapping missions, revealing seabed conditions before or after construction / installation of an underwater structure, pipeline or cable and also before, during and post decommissioning of subsea installations.

As part of this contract, ECA Group will lease the AUV to Petrus, while also providing operational support. Petrus, with its solid experience in the Oil & Gas market, will carry out and coordinate missions from preparation to data processing and delivery of results to the customer.

This partnership guarantees to ECA Group a cumulative turnover of € 6 million over the next four years, which can increase according to the rate of use of the underwater robot. Depending on the commercial success, additional A18D AUVs could be commissioned as part of this partnership.

Finally, it can be extended to other robots in the ECA Group range such as A9 type portable AUVs (A9-S or A9-E) or ROVING BAT ROV cleaning and inspection ROVs according to the needs.

The use of autonomous underwater drones is a growing demand within the Oil & Gas industry, first because they significantly reduce the cost of operations compared to traditional processes that require larger and more expensive vessels as well as longer durations for a given operation and second because they provide superior data quality.

This agreement is the largest ever signed by ECA Group for its AUVs in the Oil & Gas sector. It is the result of R&D efforts that ECA Group has been conducting for several years in this sector.

Discover ECA Group's A18D solution: https://youtu.be/Ufir2MrZBVM

Next financial release:

Publication of 2017 revenue on February 23, 2018 before stock market opening

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About Groupe Gorgé

Groupe Gorgé is an independent group that specializes in high-tech industries. Today, the Group is active in the fields of security and protection in extreme environments, as well as in the 3D printing sector. In its more than twenty-five year history, Groupe Gorgé has always developed and driven the latest technological and industrial innovations.

Smart Safety Systems:

Developing complete, innovative technological solutions for complex missions in hostile and confined environments.

Protection of High-Risk Installations:

Protecting people and ensuring the active and passive protection of installations for energy markets and industrial and tertiary sectors in France. Ensuring the maintenance of these protection systems.

3D Printing:

Enabling major industry players to find new routes to successful innovation and production processes by providing systems, 3D printers and new premium material.

In 2016, the Group reported revenue of €281.2 million. It is backed by 1,900 employees and operations in over ten countries.

More information available on www.groupe-gorge.com

Groupe Gorgé is listed on Euronext Paris.

Euronext Paris:

Compartment B.

ISIN code: FR0000062671

Ticker code: GOE

Contact

Groupe Gorgé - Raphaël GORGÉ – CEO & Chairman - Tel.: +33 1 44 77 94 77 - E-mail: [email protected]

Finance News – Anne-Pauline PETUREAUX – Analysts/Investors Relations - Tel.: +33 1 53 67 36 72 - E-mail: [email protected]

Finance News – Jean-Michel MARMILLON – Press Relations - Tel.: +33 1 53 67 36 73 - E-mail: [email protected]

Source: Actusnews