Floatel International Ltd: Third Quarter Interim Report and Presentation

Oslo – November 29, 2021 – Floatel International Ltd (“Floatel”) presents its consolidated financial statements for the third quarter of the financial year 2021.

Highlights:

• The third quarter fleet utilization was 63%. The total firm contract backlog (excluding options) is approximately USD 134 million as of September 30, 2021

• Floatel Superior’s contract with Var Energi at the Balder FPU was extended to October 9, 2021, whereafter the charter ended

• Floatel Endurance completed the charter for Equinor at the Martin Linge field on August 27, 2021

• Floatel Triumph Started the 3 months charter for Shell in the Philippines at the Malampaya field on September 1, 2021

• Floatel Victory transited to Brazil and started on September 27, 2021 the contract with Equinor to provide Maintenance and Safety Unit (MSU) services at Peregrino Floating Production Storage and Offloading unit (FPSO) with six months duration and options after the firm period

Management will host a conference call 30 November at 14.30 CET to present the results. Interested persons can register using the details provided on the website www.floatel.no. A replay will be available for 21 days following the presentation by using the link provided on the website after the conference call.
For further information, please contact:

Peter Jacobsson, CEO, Floatel International Ltd
Tel: +47 46 50 01 33 ; Mob: +47 934 00 232
Tomas Hjelmstierna, CFO, Floatel International Ltd
Tel: +47 46 50 01 33; Mob: +47 934 00 381

Download Q3-2021 Report here
Download Q3-2021 Presentation here