OCEANTEAM ASA - SOLUTIONS WINS CONTRACT TO SUPPLY AND ENGINEER 4000T AND 1100T TURNTABLES FOR CABLE HANDLING AND SPLICING

19 april 2016

Oceanteam Solutions has been awarded a contract to supply 4000T and 1100T turntables and auxiliary equipment for the storage, splicing and multiple loadouts of cables to a client at Oceanteam's own base in Velsen Noord, The Netherlands.

Oceanteam Solutions is supplying engineering services, a professional cable handling crew and equipment for the complete project. A total of three cables will be delivered and spooled onto the two turntables. Subsequently, the cables will be spliced in Oceanteam Solutions' custom-made workshop and then spooled onto a cable laying vessel. The engineering work has already been completed and mobilisation of the equipment started this month. 

"We are very pleased with this contract and our ability to support our client at such short notice. It shows our flexibility in delivering high quality engineering, custom made equipment and professional cable handling within a challenging time frame. We are looking forward to taking care of our client's future cable storage, handling and transport requirements," 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. This year, Oceanteam ASA is having its ten year anniversary, celebrating a decade of offshore solutions.

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 Torbjørn Skulstad:	+47 55 10 82 40,	torbjorn@oceanteam.no

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

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