OCEANTEAM ASA - SOLUTIONS WINS CONTRACT FOR SUPPLY

Following the letter of intent in May, Oceanteam Solutions has recently signed a contract with a European cable manufacturer regarding the supply of a transport vessel, turntable and auxiliary equipment for the transport of cables from South Europe to Scandinavia. The project is planned to be executed in summer 2017.

Besides supporting the cable transport and loadout with a transport vessel and a turntable, Oceanteam Solutions will assist the multiple cable loadouts in the appointed ports by supplying equipment and a professional cable handling crew. The turntable system and auxiliary equipment will be loaded on the vessel at Oceanteam's own quay facilities in Velsen Noord, the Netherlands, and subsequently will be shipped to South Europe. There, the cable will be spooled before heading to Scandinavia for the cable loadout.

Lex van Doorn, managing director at Oceanteam Solutions, welcomes the new partnership. "We are happy that cable manufacturers have faith in our company. Needless to say, they can rely on our extensive know-how and experience in the cable handling and transport industry and our excellent equipment plus staff. We are looking forward to bringing this project to a successful conclusion together."

Earlier this year, Oceanteam Solutions performed a cable loadout for another client. In this project, the company was responsible for the supply of all quayside equipment (turntables, tensioners, quadrants, cable highways and a custom built splicing tent) including a team of supervisors, equipment operators and spoolers.

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

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