OCEANTEAM ASA agrees long term contract with Technip UK ltd

Oceanteam ASA announced today that it has signed a contract with
Technip UK Ltd for a vessel charter plus additional services for  its
Construction Support Vessel North Ocean 103 currently under
construction in Vigo, Spain.
 
The agreement will commence in 2009 for a minimum period of 8 years
plus options for world wide operations.
 
The agreement is in line with the Oceanteam financial expectations.
 
About Oceanteam ASA
Oceanteam is an offshore services company focused on servicing,
installation, trenching and IMR of Flexible Flowlines, Umbilicals and
Power Cables. This includes the provision of subsea services,
installation teams, fully operational spreads and time charters.
Oceanteam has offices in Norway, United Kingdom, Germany, Mexico,
Angola, Dubai and the Netherlands. The company's target markets are
Oil & Gas, Offshore Renewables including associated Grid Networks and
High Voltage Power Interconnectors.
 
For more information: www.oceanteam.no
 
For further information about Oceanteam please contact:
CEO                    Haico Halbesma                +31.6.51409987
 haico@oceanteam.no
VP Shipping        Lex van Doorn                   +31.6.53200250
lex.van.doorn@oceanteam.nl
 
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