Solstad Offshore ASA — M&A Activity 2020

Dec 14, 2020

Contract awards for PSV's in Norway

Contract awards for PSV's in Norway

Solstad Offshore ASA ("Solstad") are pleased to announce that the large PSV

"Normand Serenade" has been awarded a medium-term contract with Wintershall Dea

to support their Deepsea Aberdeen drilling operations in Norway. The award is a

call off from the existing frame agreement. Commencement of the contract will

take place during Q1 2021 for a duration of 2 wells firm + 5 well options.

As part of the Frame Agreement between Aker BP ASA and Solstad, Aker BP ASA has

secured the PSV "Normand Arctic" for three months plus three months option,

commencing February 2021. "Normand Arctic" has also been fixed by an undisclosed

Charterer for 1 well, securing work for the vessel until commencement of the

Aker BP contract.

Skudeneshavn, December 14th, 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