Floatel International Ltd: Fourth Quarter Interim Report and Presentation

23 Feb 2023 12:31 CET

Oslo – February 23, 2023 – Floatel International Ltd (“Floatel”) presents its
consolidated financial statements for the fourth quarter of the financial year
2022.

Highlights:
- The fourth quarter fleet utilization was 60%. The total firm contract backlog
(excluding options) was approximately USD 219 million as of December 31, 2022.

New Contracts
o Vår Energi (“VE”) awarded Floatel Superior a 3-month contract in Norway with
options afterward. VE also has the right to utilise Floatel Superior in Norway
for 4-10 months in 2024.
o AkerBP has awarded two simultaneous projects on the Norwegian continental
shelf for Floatel Endurance and Floatel Superior. The charters will commence in
mid-2026, with firm hire periods of 7 and 10 months respectively, both with
several options to extend.

- Floatel Endurance and Floatel Superior on charter for Equinor at the Johan
Sverdrup and Grane fields in Norway during the entire quarter; the contracts
ended/ends December 31, 2022, and April 30, 2023, respectively.

- Floatel Triumph is idle in Kemaman, Malaysia, and ready to depart to Australia
at the end of the month as the Woodside charter commences mid-March 2023.

- Floatel Victory continued its charter for Equinor in Brazil to provide
Maintenance and Safety Unit(MSU) services. The contract has been extended to
March 29, 2023.

Management will host a conference call later today, at 14.00 CET, to present the
results. Interested persons can register using the details provided on the
website www.floatel.no.

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

More information:
Access the news on Oslo Bors NewsWeb site

583327_FIL Q4-2022 Presentation.pdf
583327_FIL Q4-2022 Report.pdf