Floatel International Ltd: Contract Award

The Company is pleased to announce that the Group has been awarded a contract by Vår Energi AS where Floatel Superior will provide offshore accommodation services for the Balder HAP project in Norway. The contract is expected to start mid-Q2-2023 and has a 3 months’ firm period with options to extend.

The contract also provides Vår Energi with an option to utilise Floatel Superior on the Norwegian continental shelf for 4 to 10 months with commencement early Q2 2024. This option shall be exercised before end of Q1 2023.

For further information, please contact:

Peter Jacobsson, CEO

Tel: +47 46 50 01 33; Mob: +47 934 00 232

Tomas Hjelmstierna, CFO

Tel: +47 46 50 01 33; Mob: +47 934 00 381