20 September 2016

OCEANTEAM ASA - SOLUTIONS WINS A LONG-TERM CONTRACT FOR CABLE STORAGE

Oceanteam Solutions has been awarded a long-term contract to supply an Offshore Transmission Owner (OFTO) with port facilities, loadouts and storage of cables at Oceanteam's own cable storage facility in Velsen Noord, The Netherlands.

The transpooling of the cable will be performed by our professional cable handling crew end of this month. The cable will be transferred to a 120T liftable cable basket, designed and engineered by Oceanteam Solutions, for storage up to 20 years.

Our cable storage facility is situated immediately behind the North Sea locks of IJmuiden, in the direct proximity of Amsterdam. The harbor 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. The facility furthermore benefits from a vast network of skilled cable handling crew and engineers and has most specialist cable transfer, storage and installation equipment readily available. 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 to have the opportunity to welcome another client to our storage facility. With our support on this long-term project it again shows the demand of a cable storage hub, with direct access to the North Sea, and the fully integrated range of services Oceanteam Solutions offers," 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 ten 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
     

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