Floatel International Ltd: Contract Award

The Company is pleased to announce that Aker BP ASA has awarded the Group a contract for the Skarv FPSO (Floating Production, Storage and Offloading unit) modifications and maintenance activities. The work is part of the Skarv Satellites Project (SSP), which entails tie-backs of the Idun Nord, Alve Nord and Ørn to the Skarv FPSO. The Skarv field is located in the Haltenbanken area on the Norwegian continental shelf.

Floatel Endurance has been nominated for the work. The contract will commence in March 2024 and has a firm hire period of eight months with options to extend. The contract award is subject to Aker BP obtaining plan for development and operations (PDO) approval from Norwegian authorities.

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