02 October 2017

OCEANTEAM ASA - OCEANTEAM SOLUTIONS WINS CONTRACT TO SUPPLY A 5300T TURNTABLE ON A BARGE UTILISED FOR CABLE STORAGE PURPOSES

Oceanteam Solutions has recently signed a contract regarding the supply of a 5300T turntable, a loading tower and auxiliary equipment on a barge for the storage and multiple loadouts of subsea cables in the Netherlands. Furthermore, Oceanteam will accommodate a professional cable handling crew that will assist during the cable loadouts.

For this newly awarded project, four cables will be delivered and spooled onto the turntable which is mobilised on a barge at the client's premises. This way, Oceanteam offers the client a one-stop shop service by supplying the barge, storage equipment and cable handling crew in one package. Earlier this year, Oceanteam successfully completed a project comprised of cable splicing, storage and multiple loadouts with its own 4000t and 2000t turntables for the same client.

Oceanteam is happy to win this new contract after successfully completing two similar projects for the same client over the last two years, says Haico Halbesma, CEO at Oceanteam "This newly awarded contract demonstrates the trust clients have in Oceanteam's extensive know-how and experience in the cable handling and storage business."

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

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