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OCEANTEAM ASA - AMENDED CHARTER CONTRACT CSV SOUTHERN OCEAN WITH FUGRO

GlobeNewswire

The CSV Southern Ocean, which has been on a long-term bare boat charter contract with Fugro since her delivery in 2010, has been redelivered to Oceanteam per 7 November 2017. Despite the redelivery, under the amended contract the vessel will remain available for jobs as and when fit to Fugro until the original end date of the contract (end 2018).

The owners and Fugro have initiated a world-wide re-marketing and re-deployment initiative for the CSV Southern Ocean complete with integrated survey and multiple ROV spread.

The CSV Southern Ocean is a DP2 Construction Support vessel (dynamic positioning class 2) with large cranes (1 x 250 and 1 x 100 tonnes fully heave compensated), 2400 m2 deck space, 10.000 tonnes DWT, extensive accommodation and excellent seafaring capabilities.

These characteristics enable Southern Ocean to be utilised for field support, construction, installation and IRM. CSV Southern Ocean can carry 7.000 tonnes load on deck, combined with in house carousel, reel and engineering capabilities, the vessel can be utilised for a flex lay project in the oil and gas, power and offshore renewables markets.

CSV Southern Ocean is owned by a joint venture between Bourbon Offshore Norway and Oceanteam.


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.

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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.



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Oceanteam ASA via GlobeNewswire
HUG#2147677