OCEANTEAM ASA - SOLUTIONS WINS CONTRACT TO ENGINEE

Oceanteam Solutions has won a contract for engineering and supplying a 4000T and a 2000T turntable for the splicing, storage and multiple loadouts of cables. Furthermore, Oceanteam will accommodate a professional cable handling crew, engineering services and equipment for the complete project.

For this newly awarded project, two cables will be delivered and spooled onto the two turntables. The cables will be spliced in Oceanteam Solutions' custom-made workshop and then spooled onto a cable laying vessel. Earlier this year, Oceanteam completed the engineering and supply of a 4000T and 1100T turntable for the same client.

Lex van Doorn, Managing Director of Oceanteam Solutions is pleased with the recently awarded project: "We are very happy to win this new contract after successfully completing our assignment for the same client last spring. This confirms our expertise in high quality engineering, custom made equipment and professional cable handling."

Oceanteam Solutions designs, builds and owns a large pool of demountable turntables with a capacity of up to 5000T. The company has successfully executed over 50 cable transport, handling and storage projects. It currently offers facilities in Europe, the Middle East and Asia and is expanding its network.

Further reading: Oceanteam solutions wins contract to supply and engineer 4000T and 1100T turntables

About Oceanteam ASA The Company is comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions. Oceanteam Shipping owns, charters and manages deep-water offshore support vessels and fast support vessels. Oceanteam Solutions focus is to provide its clients with complete offshore solutions. Oceanteam ASA has been active in the industry as an offshore solutions provider for over ten years.

For more information: www.oceanteam.no

For further information about Oceanteam ASA please contact: CEO Haico Halbesma    +31 20 535 7570    haico@oceanteam.no This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.