date 2 November 2021 pages 2

PRESS RELEASE

DEME Offshore and Penta-Ocean Construction establish new Joint Venture Company, Japan Offshore Marine

DEME Offshore and Penta-Ocean Construction Co., Ltd., Japan's leading marine contractor, have formally established a new Joint Venture Company, named Japan Offshore Marine (JOM).

The formation of a joint company marks the formalisation of the cooperation between DEME Offshore (49%) and Penta-Ocean Construction (51%°) in Japan. Through JOM, both partners are committed to take a pioneer position in the fast-developing Japanese offshore wind market. Japan Offshore Marine combines DEME Offshore's marine engineering knowledge and decades of experience in the renewables sector, with the knowledge and highly specialised marine construction technology of Penta-Ocean.

As a further vote of confidence in the Japanese market, the DP2 jack-up installation vessel 'Sea

Challenger' will be relocated to Japan and will be brought under the Japanese flag.

'Sea Challenger' is set to undergo a major upgrade, preparing it for the first round of offshore wind farm projects in Japan expected to start in 2025. JOM's investments in new technology will ensure the company is ready for the future and to become an offshore wind industry leader in the Japanese market.

New company will be a front runner in Japan's offshore wind farm construction

Takuzo Shimizu, CEO Penta-OceanConstruction, comments: "We are delighted to have established a joint venture company in Japan with DEME Offshore, a leading company in the field of offshore wind construction in Europe. We are confident that through JOM we will be able to combine our extensive experience and expertise in offshore wind construction and marine civil engineering, to lead the growing offshore wind farm construction market in Japan. JOM's new challenge begins with overcoming Japan's challenging natural conditions such as harsh metocean conditions, earthquakes and complex soil conditions."

Luc Vandenbulcke, CEO DEME Group, comments: "We are thrilled to have established a local Japanese company together with our partner Penta-Ocean Construction. JOM will combine both partners strengths and will be well-equipped with its own state-of-the-art and future-proof installation vessel. Both partners bring their drilling and offshore expertise to JOM. Japanese projects will be marked by complex seabed conditions, whichmeans that drilling expertise will be vital for becoming successful in Japan. We are very excited to be able to make a significant contribution to the long-term development of the offshore wind sector and to help Japan fulfil its ambitions."

Internal use only.

About DEME Offshore

DEME Offshore, a subsidiary of the DEME Group, is the leading global solutions provider in the offshore energy industry. DEME Group is a world leader in the highly specialised fields of dredging, solutions for the offshore energy market, environmental and infra marine works. The company can build on more than 140 years of know-how and experience is a front runner in innovation and new technologies. DEME's vision is to work towards a sustainable future by offering solutions for global challenges: a rising sea level, a growing population, reduction of CO2 emissions, polluted rivers, seas and soils and the scarcity of natural resources. DEME can rely on 5,200 highly skilled professionals across the globe. With a versatile and modern fleet of over 100 vessels, backed by a broad range of auxiliary equipment, the company can provide solutions for even the most complex projects.

www.deme-group.com

About Penta-Ocean

Penta-Ocean is one of Japan's leading general contractors, celebrating its 125th anniversary in April 2021, and a leader in the field of marine civil engineering works. Beginning with the Suez Canal Dredging Project in 1961, its global business expansion mostly based in Singapore has been marked by a number of memorable milestone projects including large-scale reclamation, port construction and construction of the iconic "Esplanade Theatres on the Bay" since its foray into Singapore in 1964. Under the ESG- oriented management philosophy of "Affiliating with society", "Creating a nature-rich environment", and "Cherishing a pioneering spirit", Penta-Ocean strives to become a "genuine global general contractor" with distinctive strengths in port, coastal and waterfront areas and overseas. Its corporate mission is to provide customers and the society with high-quality infrastructures and buildings with reliable safety and quality backed by advanced technologies. Penta-Ocean now extensively promotes "Green" initiatives with an enterprising spirit, aiming to be a front runner in the field of offshore wind farm construction in Japan.

https://www.penta-ocean.co.jp

Contact

Wouter Piepers

piepers.wouter@deme-group.com+32 3 253 30 49

Vicky Cosemanscosemans.vicky@deme-group.com+32 3 250 59 22

Internal use only.

Attachments

  • Original document
  • Permalink

Disclaimer

CFE - Compagnie d'Entreprises SA published this content on 02 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 November 2021 06:11:03 UTC.