Floatel International Ltd: Contract Award

04 Mar 2024 14:26 CET

Oslo, March 4, 2024

In addition to the Åsgard contract award from Equinor Energy AS announced on
February 27, 2024, the Company is pleased to announce that the Group has secured
an optional contract with Equinor for providing accommodation and support
services at Oseberg Field Centre. If Equinor declares the option, the hire
period for Floatel Superior will be extended by an additional five to eight
months to a total duration of eleven to fourteen months, including the Åsgard
project.

The optional period at Oseberg is to be declared by Equinor before November 1,
2024.

This subsequent engagement at the Oseberg is due to commence immediately
following the completion of the project at Åsgard in early Q4 2025.


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


INFORMATION ABOUT FLOATEL INTERNATIONAL LTD
Floatel International Ltd was established in 2006 to satisfy market demand for a
new generation of offshore flotels. The vision of the Company is to own and
operate a modern, safe, and reliable flotel fleet. The Company has since 2021
its principal place of business in Norway.

Floatel International Group owns and operates five semisubmersible accommodation
vessels; all vessels were delivered from 2010 to 2016. Two vessels, Floatel
Endurance, and Floatel Superior are approved to operate in the Norwegian sector,
and four vessels, including Floatel Endurance and Floatel Superior, are approved
for the UK sector. All vessels are equipped with a dynamic positioning system
and are built according to the latest HSE requirements providing quality and
comfort for the guests onboard. The accommodation capacity of the Floatel fleet
ranges from 440 beds to 560 beds.

All vessels are equipped with large deck areas, workshops, and crane support,
able to assist complicated offshore hook-up projects and maintenance and
modifications of existing offshore facilities.

Floatel International has two other bond issuances listed on Nordic ABM, Oslo
Exchange, with ticker codes FLOAT04 and FLOAT05.

For further information about Floatel International Group, please visit our
website: www.floatel.no.

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