Solstad Offshore ASA — M&A Activity 2020

Dec 17, 2020

Award of contract for three PSV's

Solstad Offshore ASA ("Solstad") are pleased to confirm that the PSV Normand Surfer has been awarded a long-term contract with a leading North Sea Operator. The vessel has been contracted for a period of four wells firm, which have an estimated total duration of around 550 days, with two option wells thereafter. The operations will be in UK waters and commencement of the contract will be during the first quarter of 2021.

In addition, the present contract for the PSV Far Spica has been extended with its current Charterer. This contract is also in the UK and is now firm to December 2021.

Solstad are also pleased to announce that Tullow Suriname BV has contracted the PSV Normand Supra commencing during December 2020 for a one well drilling campaign offshore Suriname. The contract has an estimated duration of around three months, inclusive of vessel transit time.

Skudeneshavn, December 17 th , 2020

Contacts Lars Peder Solstad CEO, at +47 91 31 85 85 Kjetil Ramstad CFO, at +47 90 75 94 89

Solstad Offshore ASA www.solstad.com