Agency agreement established between Bergen Group and Calm Oceans Pte. Ltd.

Bergen Group and Calm Oceans Pte. Ltd (COPL) have entered into an agency agreement about Bergen Group representing COPL in the marketing of their newly developed Mono-Column Platform (MCP) in the Norwegian market. This offshore mobile platform is a self-elevating, multipurpose and high payload jack-up, specially designed to address the commercial challenges relating to marginal field technical development, as well as those associated with early monetization of oil and gas fields.   

Calm Oceans Pte. Ltd is a Singapore-registered company owned by controlled by Brian Chang Holdings Limited, which also is a major shareholder in Bergen Group ASA with their 33.1 % ownership.  

"The management in Bergen Group ASA has recently accomplished strategic discussions with CEO Brian Chang in Brian Chang Holdings Limited. We are delighted to perceive a common understanding with the major shareholder of Bergen Group's about the company's growth potential going forward", says CEO Hans Petter Eikeland in Bergen Group ASA.  

"The MCP is an effective bespoke solution which caters to any offshore field development that are within 120m water depth, particularly for marginal fields. Together with our leasing business model, we believed that this solution would be especially valuable and beneficial during this challenging period, for field operators whom are looking at means of reducing CAPEX while sustaining the business. We are confident that the MCP would mark its presence in the Norwegian market with the help of Bergen Group", says Brian Chang. 

The MCP supports high Variable Deck Load (VDL) up to 5,000t, with a generous deck space capable of taking on different modular facilities such as Drilling Modules, Production Modules, Accommodation Modules as well as Combined Drilling and Production Modules as may be required. in order to provide the different functions required. When these various functions are put together they serve as a complete Field Development solution for the end-user. The platform essentially comprises a deck box, 4-chord square truss structure (Mono-Column) and a mat foundation. With the mat design, the MCP can operate in oil fields with soft seabed's which are challenging for conventional jack-ups. Also, with its self-elevating feature, there is no need for sophisticated and expensive offshore construction fleet during deployment and relocation. T

he MCP Design is conceptualized by Brian Chang and is classed with ABS (American Bureau Society), adhering to MOU (Mobile Offshore Unit) Code 2008 and other relevant IMO guidelines. For more info; visit http://bcholdings.com.sg         

Contact person:CEO Hans Petter Eikeland, Bergen Group ASA, tel. +47 932 08 177

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