New medium-term contracts

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Solstad Offshore (“Solstad”) has signed contracts for several of its vessels with various Clients.

Technip FMC have extended the present frame agreement with Solstad for ploughing/trenching duties in the North Sea with 1 year. As part of the extension the parties have agreed to utilize the AHTS Normand Ranger for a minimum of 80 days plus options on various projects in 2020, with expected commencement in April.

Solstad has been awarded a contract with Repsol Sinopec Resources UK Limited, for the CSV Normand Jarl. The contract will commence in May 2020 and have a firm duration of 105 days.

Repsol Sinopec Resources UK Limited will utilize the vessel to support their maintenance activities in the North Sea.

The CSV’s Normand Baltic and Normand Australis has been awarded contracts for work offshore New Zealand and offshore Papua New Guinea. Both contracts will commence in January 2020 and each will have a duration of 60 days firm plus options.

Solstad has in addition to this entered into a 6 months contract with a major oil company for one of its large AHTS’s. The contract commences in December 2019 for operations in Brazilian waters.

Skudeneshavn, 20th December 2019

Lars Peder Solstad CEO, at +47 91 31 85 85
Anders Hall Jomaas CFO, at +47 40 04 29 18

Solstad Offshore ASA

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