Eidesvik Offshore — M&A Activity 2019

May 13, 2019

EIOF – Eidesvik Offshore ASA enters into Master Time Charter Agreement with Seabed Geosolutions

EIOF – Eidesvik Offshore ASA enters into Master Time Charter Agreement with Seabed Geosolutions

Eidesvik Offshore ASA («Eidesvik») has entered into a long-term Master Time Charter Agreement with Seabed Geosolutions. The Master Time Charter Agreement includes services for seismic source and node-handling vessels.

As a first call off under this agreement, Eidesvik has been awarded new contracts by Seabed Geosolutions for the seismic source vessel «Vantage» and the node-handling vessel «Subsea Viking». The new contracts are in direct continuation of the existing contracts, and the duration is approximately 3 months with further options. Both vessels are then booked until the fourth quarter 2019.

«We are very pleased with the contract awards, and we look forward to further developing our relationship with Seabed Geosolutions», says CEO & President Mr. Jan Fredrik Meling.

Bømlo, May 13, 2019

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