Brief: Oceanteam Updates On 4000-Tonne Carousel Agreement

Oceanteam ASA

04/02/2022 14:10

Feb 4 (Reuters) - Oceanteam ASA  OTS.OL :
    * IN FEBRUARY 2020, OCEANTEAM ENTERED INTO A THREE-YEAR AGREEMENT FOR RENTAL OF ONE OF ITS
4000-TONNE CAROUSELS
    * PARTIES TO AGREEMENT HAVE AGREED ON A CONTRACT VARIATION WHEREBY CAROUSEL HAS BEEN
RETURNED
APPROXIMATELY ONE YEAR EARLY
    * EXPECTS WITH RETURN OF ONE OF LARGER CAROUSELS, CO EXPECT THEY WILL BE ABLE TO TAKE
ADVANTAGE OF
HIGHER RATES OBSERVED IN SUBSEA CABLE AND UMBILICAL MARKETS
    * OCEANTEAM SOLUTIONS SHOULD THEREBY GENERATE SUFFICIENT REVENUE TO COVER NOT ONLY FOR
ANNUAL
OVERHEAD COSTS OF SOLUTIONS ITSELF BUT ALSO THOSE OF OUR INVESTMENT PLATFORM.
    * IS OF OPINION IT'S VERY REALISTIC TARGET AND MEETING OBJECTIVE WOULD LEAD TO CASH NEUTRAL
RESULT
FOR GROUP IN 2023
    * CURRENTLY EXPLORING SEVERAL M&A OPPORTUNITIES IN LINE WITH OUR STRATEGIC OUTLOOK AND FIRM
AIM TO
IMPROVE SHAREHOLDER VALUE

Source text for Eikon:  ID:nObih1MDJa 
Further company coverage:  OTS.OL 

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