Soiltech

Related Party Transaction • Jan 14, 2025

Soiltech to provide drilling waste management services on Grane

Soiltech to provide drilling waste management services on Grane

Soiltech ASA (OSE: STECH)

Sandnes, Norway, 14 January 2025

Soiltech ASA has received a call-off order under the Frame agreement with Equinor to provide drilling waste management services on the Grane field in Norway. The services comprise offshore provision of solid waste (drill cuttings) handling. This is estimated to be a large contract for Soiltech¹. Expected startup is first quarter of 2025.

The Frame agreement with Equinor has a duration until June 2026, option periods excluded, potentially 2034 including all option periods.

The Grane platform is located about 185 kilometres west of Haugesund.

“We have invested a lot in developing more effective solutions for the handling of drill cuttings offshore. This includes efficient cuttings transfer on the rig, and flexible solutions for cuttings storage. Always with a focus on safe operations.”, says Glenn Åsland, COO in Soiltech.

About Soiltech

Soiltech is an innovative technology company specializing in the treatment, recycling and sustainable handling of contaminated water and solid waste on site. Our technologies enable cost savings and lower CO2 emissions through waste reduction, waste recovery and reuse.

Soiltech operates world-wide and is headquartered in Norway.

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

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1. Contract sizes

A sizable contract has an estimated value of MNOK 5 - 10 over 12 months

A substantial contract has an estimated value of MNOK 10 – 20 over 12 months

A large contract has an estimated value above MNOK 20 over 12 months

Contact:

Tove Vestlie, CFO Telephone: (+47) 90 69 06 48

Jan Erik Tveteraas, CEO Telephone: (+47) 95 21 49 25