CSV Southern Ocean secures new contract with Fugro Australia for works offshore
Australia

CSV Southern Ocean has been awarded a charter contract for work offshore
Australia. 
Works on this contract are scheduled to commence in Q4 2020 for approx. 30 days.

Henk van den IJssel, CEO of Oceanteam, says: “Securing this new contract for the
CSV Southern Ocean shows the increased activity in the offshore market and its
faith in our assets. The deployment of the vessel will follow the execution of
the planned class renewal programme of CSV Southern Ocean, which is currently
being executed in Singapore and to be completed in September 2020.”

CSV Southern Ocean is jointly owned by Bourbon and Oceanteam. 

About Oceanteam ASA

The Company is comprised of two operating segments, Oceanteam Shipping and
Oceanteam Solutions. Oceanteam Shipping owns, charters and manages two
deep-water offshore construction support vessels. Oceanteam Solutions' focus is
to provide its clients with complete offshore cable services. 
Oceanteam ASA has been active in the industry as an offshore solutions provider
for over fourteen years.

For further information about Oceanteam ASA please visit www.oceanteam.no or
contact:

Henk van den IJssel, CEO, e-mail: henkij@oceanteam.nl
Telephone +31 20 535 75 70

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.