20 February 2014


Oceanteam announced today that it has exercised its option to buy the remaining 30% shares of KCI design engineers. KCI is a multi-discipline engineering company, employing over 150 engineers and has offices in Schiedam, The Netherlands and Hamburg, Germany.

As a result of this transaction, Oceanteam is now the 100% strategic owner of KCI design engineers. The shares were bought from the previous management team at confidential terms.

Through this strategic purchase, Oceanteam can speed up the already initiated investment program and support the company with its growth plans going forward expanding its unique and true multi-discipline design engineering services.

For over 25 years KCI has been providing quality engineering services to a well-established base of international customers in various industries ranging from Oil & Gas and Shipping to Offshore Renewables. Since Oceanteam became a strategic shareholder in 2008, KCI's activities have shown a steady and healthy growth which has supplied a good workload to the team of over 150 highly qualified engineers.

KCI is a financially sound company and has a solid order-book. Projects have grown from single engineering discipline services to multi-disciplinary full scope engineering services for renowned and returning customers that seek the company's professional engineering assistance.

The board and management of KCI are confident that, due to this buyout, their team of skilled and professional engineers will get new impulses as a result. The company will continue to focus on costumers' requirements by delivering relevant, top quality and innovative engineering solutions through its growing team.

About KCI
KCI is a company firmly rooted in the oil and gas extraction industries. KCI's engineers do not only develop full-scale oil and gas extraction concepts; they also guide their customers from development stages until the system is being taken into operation for the first time.

What KCI does:

· Designing and building complete oil and gas development concepts
· Designing and building complete renewable energy concepts
· Developing complex and special structures for both industries
· Creating contemporary solutions for complex environmental challenges

The company's mission is to be the preferred engineering partner for clients in the upstream oil and gas, complex structures and offshore renewable industries by early involvement from first concept to execution and commissioning for all engineering disciplines.

For more information on KCI: www.kci.nl

About Oceanteam Shipping ASA
Oceanteam Shipping ASA (Oslo Stock Exchange: OTS) is an offshore shipping company. Its business is the owning, chartering and managing of Deepwater Offshore Construction Service - and Pipe Lay Vessels In addition Oceanteam Shipping provides complementary Engineering Services consisting of both Engineering & Design Services and Equipment to support its clients.

For more information: www.oceanteam.no

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

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