Beerenberg

Regulatory Filings • May 8, 2024

Beerenberg wins frame agreement for decommissioning work.

Beerenberg wins frame agreement for decommissioning work.

Bergen, May 8th, 2024: Beerenberg signs frame agreement with Allseas Group S.A. for specialized RAT and mechanical services for decommissioning work in the North Sea.

The new frame agreement is categorized with a substantial (2) potential and has a firm duration of five years with potential for a further extension of 1 year.

The first project under the frame agreement entails specialized services in conjunction with removal of a large platform on the UKCS. Planning for this work will start immediately and the removal of the platform is planned for 2025.

Beerenberg has extensive experience in complex mechanical and rigging operation with RAT where strict requirements and quality are emphasized.

Arild Apelthun, CEO at Beerenberg said:

“We are delighted that Allseas has chosen us as partner for their decommissioning projects on the UK sector.”

(1) A sizeable contract is defined to be between NOK 50 million and NOK 100 million.

(2) A substantial contract is between NOK 100 million and NOK 200 million.

(3) A large contract is over NOK 200 million.

For further information, please contact:

Harald Haldorsen, CFO Beerenberg

Phone: +47 982 34 834

E-mail: harhal@beerenberg.com

About Beerenberg AS

Beerenberg has delivered cost efficient solutions to a wide range of industrial enterprises for 47 years. Beerenberg is one of the leading suppliers of maintenance and modifications services on the Norwegian Continental Shelf as well as a global provider of insulating products. The Group´s expertise covers the entire life cycle of the petroleum industry from field studies and newbuilds to maintenance, modifications, and lifetime extensions. The operational activities are organized in Beerenberg Services and its subsidiaries. Headquartered in Bergen, Beerenberg has offices in Stavanger and Skien in Norway and in Poland, UK, South-Korea, Thailand, Brazil, and Singapore.

To learn more, please visit www.beerenberg.com.