OCEANTEAM ASA - CSV SOUTHERN OCEAN FIRMS UP NEW WORK

CSV Southern Ocean secures a new contract and will start operations by mid of February 2018 for a firm period of 30 days and options to extend with 60 days. The Construction Support Vessel has been assigned to multiple smaller projects within the APAC region.

The contract is the result of the initiated worldwide re-marketing and re-deployment initiative for the CSV Southern Ocean complete with already mobilised 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.

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
CFO Jos van Dijk:	+31 20 53 57 570,	jos@oceanteam.nl

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

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Source: Oceanteam ASA via GlobeNewswire
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