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

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ECA Group 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 the A18D video: https://youtu.be/Ufir2MrZBVM

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Disclaimer

This press release could contain statements on past events and forward-looking statements including statements regarding future goals or targets. Forward-looking statements reflect current expectations for results and future events.

Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ materially from those anticipated herein. All these risks and uncertainties could affect the Group's future ability to achieve its targets. Risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements and targets include, among other things: the risks and uncertainties mentioned in the press release; the strength of competition; the continuing growth of the market; currency fluctuations; interest rate fluctuations; raw material price fluctuations; armed conflicts or political instability; control of costs and expenses; changes in tax legislation, rules, regulation or enforcement; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel and key personnel; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; supply chain and manufacturing bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.).

Some of these risk factors are set forth and detailed in our Document de Référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers). This list of risks, uncertainties and other factors is not limitative. Other non-anticipated, unknown or unforeseeable factors could also have material adverse effect on our targets. The Group expressly disclaims any obligation or undertaking to update or revise any forward-looking statements or targets potentially contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based.

ECA Group

Recognized for its expertise in robotics, automation systems, simulation and industrial processes, the ECA Group has been developing complete, innovative technological solutions for complex missions in hostile and confined environments since 1936. Its product offering is designed for an international client base that is demanding, both in terms of safety and effectiveness. The Group's main markets are in the defense, maritime, aeronautics, simulation, industrial and energy sectors.

In 2016, the Group reported revenue of €112.5 million across its three divisions: Robotics & Integrated Systems, Aeronautics and Simulation.

The ECA Group is a Groupe Gorgé company.

The ECA Group is listed on Euronext Paris Compartment C.

Indexes: SBF 250, CAC SMALL 90 and CAC IT- ISIN Code: FR0010099515

Ticker Code: ECASA - Bloomberg Code: ECASA:FP

Contact

Actus Finance

Anne-Pauline PETUREAUX

Analysts / Investors

Relations

Tel: +33 (0)1 53 67 36 72

apetureaux@actus.fr

Jean-Michel MARMILLON

Press Relations

Tel: +33(0)1 53 67 36 73

jmmarmillon@actus.fr

ECA Group

Raphaël GORGE

Chairman

Tel: +33 (0)1 44 77 94 80

Guénaël GUILLERME

Chief Executive Officer

Tel: +33 (0)4 94 08 90 00



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Full and original press release in PDF:
https://www.actusnews.com/documents_communiques/ACTUS-0-52059-cp_eca_group_petrus_significant_partnership_and_positioning_in_subsea_robotics_services_auvs_rov_for_the_oil_gas_market.pdf
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