Solstad Offshore ASA - Capital/Financing Update 2019

PSV Frame Agreement with Aker BP ASA

Solstad has entered into a frame agreement for the provision of supply vessel

services with Aker BP ASA.

The Frame Agreement is for 3 years firm + 2x2 yearly options, whereas vessels

will be called off each year based on Aker BP's demand coming 12 months, and is

expected to significantly contribute to an increased utilization of the

Company's PSV fleet.

"We are very pleased to be recognized as a quality provider of supply vessel

services by Aker BP and look forward to strengthening our already close relation

in the years to come. This is also a recognition of the service provided by our

employees onboard our vessels", says Kenneth Lande, EVP AHTS/PSV Strategic

Regions.

Skudeneshavn, March 1st, 2019

Contacts

Lars Peder Solstad CEO, at +47 91 31 85 85

Anders Hall Jomaas CFO, at +47 40 04 29 18

Solstad Offshore ASA

www.solstad.com

This information is subject of the disclosure requirements according to the

Norwegian Securities Trading Act section §5-12.

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