18.07.2017

Contracts in Australia

SolstadFarstad have secured a contract with Cooper Energy to support drilling operations within the Bass Strait region of Australia.

The contract consists of the Far Statesman and Far Senator towing the Ocean Monarch from the North West Shelf of Australia to the Bass Strait, and then continuing with rig support duties for a firm period of 120 days, and two lots of 60-day optional periods. The tow of the Ocean Monarch is anticipated to commence late December 2017 – January 2018.

This contract with Cooper Energy is the first time that the two companies have done business together and it provides SolstadFarstad with an excellent opportunity to commence building a robust and long-standing relationship with an important new client.

The commercial terms are confidential between the parties.

Skudeneshavn, 18th July 2017

Contacts
Lars Peder Solstad, CEO at +47 913 18 585
Anders Hall Jomaas, CFO at +47 40 04 29 18

Solstad Farstad ASA
www.solstad.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)