Odfjell Technology is awarded a multi-million NOK contract from OSM Thome to
provide upgrade and modification services on the Heidrun B Floating Storage Unit
(FSU), owned by Equinor and partners. 

Under the contract, Odfjell Technology will provide engineering, construction,
and installation services on several tasks, including a new Volatile Organic
Compounds Recovery System and replacement of an existing crane, that will
increase the safety level and the technical condition of the FSU. 

Anne Siri Sævareid, EVP Projects & Engineering at Odfjell Technology, comments:
"We are thrilled to announce this significant milestone in our company's journey
as we take a step forward in the area of engineering and installation. Thanks to
our versatile workforce, we have the capacity to successfully undertake a
comprehensive range of 21 tasks within this specific scope of work." 

The contracted work started in May 2022 but is now formalised in a modification
contract with OSM Thome. Estimated contract completion is in the 1st quarter of
2027.

About Heidrun B
Heidrun B is a Floating Storage Unit (FSU) operating at the Heidrun field. The
vessel is owned by Equinor and their partners in the Heidrun license. OSM Thome
is responsible for the daily operations and maintenance of the vessel, as well
as technical integrity. OSM Thome has entered into a Subcontract with Odfjell
Engineering AS concerning the provisions of Heidrun B FSU Modification Work. 

For further queries, please contact: 
Gillian Basson, Corporate Secretary
+44 (0) 7796 547 889
gbas@odfjelltechnology.com 
Aberdeen, United Kingdom 

or

Gert Haugland, SVP Finance & Investor Relations
+47 92661638
gjha@odfjelltechnology.com

18 January 2024
Odfjell Technology Ltd