Solstad Offshore ASA - Capital/Financing Update 2016

NEW CONTRACTS

Solstad Offshore ASA (SOFF) has entered into an

agreement with SBM Offshore for tow out of the Glen

Lyon FPSO, from Haugesund to final location West of

Shetland. SOFF has delivered the "Normand

Prosper", "Normand Ranger" and "Normand Progress" from

own fleet, and a fourth vessel that has been chartered

in. Commencement was end of May 2016.

Further to the above, SOFF has entered into an

agreement with BP Exploration Operating Company Ltd

for "Normand Prosper" and "Normand Ranger". Scope of

work is heading control of the Glen Lyon FPSO during

the installation period. Commencement in direct

continuation of the SBM charter agreement.

The above represents a total of 220 firm vessel days

plus options, the commercial terms are confidential

between the Parties.

Contacts: Lars Peder Solstad / Sven Stakkestad

Skudeneshavn, 3rd June 2016

Solstad Offshore ASA

This information is subject of the disclosure

requirements acc. to §5-12 vphl (Norwegian Securities

Trading Act)

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