OCEANTEAM ASA - SOLUTIONS WINS LONG-TERM CONTRACT TO

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News Desk 2018
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OCEANTEAM ASA - SOLUTIONS WINS LONG-TERM CONTRACT TO ENGINEER AND SUPPLY 5300T AND 1100T TURNTABLES FOR CABLE STORAGE

Oceanteam Solutions has been awarded a long-term contract to supply a company that provides cables and systems for energy and telecommunications with port facilities, loadouts and storage of cables at Oceanteam's own cable storage facility in Velsen Noord, The Netherlands. Furthermore, Oceanteam will accommodate a professional cable handling crew, engineering services and equipment for the complete project.

For this new long-term storage project, Oceanteam delivers two demountable carousels of which one will be upgraded and customised from 4000t to 5300t, according to the client's cable specifications. Spooling operations will start later this month and will be performed by our experienced cable handling crew. Our cable storage facility is situated immediately behind the North Sea locks of IJmuiden, in the direct proximity of Amsterdam. The harbour is only 1.5 NM inward from sea and berths are safe and free of tidal movement. Another major benefit of the area is the easy accessibility for all modalities, such as good shipping possibilities to the inlands of Europe. Cable storage units (static tanks, turntables, cable baskets, reels) can be placed at every desired position and in every size. "We are very pleased with this contract and we are happy to have the opportunity to welcome one of the biggest cable manufacturers to our storage facility. It shows that our unique one-stop shop, that combines engineering know-how, professional cable handling crews and special purpose equipment, fulfils our clients' high expectations," says Lex van Doorn Managing Director of Oceanteam Solutions.

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 twelve years.

For more information: www.oceanteam.no

For further information about Oceanteam ASA please contact:
CEO Haico Halbesma: +31 20 53 57 570, haico@oceanteam.no
CFO Wilhelm Bøhn:  +47 55 10 82 40 , wilhelm@oceanteam.no

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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