PRESS RELEASE
7th of December 2015

Ocean Installer has been awarded a contract for field development work in Nigeria for Folawiyo Aje Services Limited. The contract starts with immediate effect.

Ocean Installer will perform the offshore construction of the Aje Ph1 project off the coast of Nigeria. The scope of work includes mooring buoy installation and hook up, flowline and umbilical installation. Folawiyo Aje Services Limited (FASL) functions as dedicated technical advisor to the field operator Yinka Folawiyo Petroleum.

“We are very pleased to have been awarded our second major contract in West Africa. This proves our Africa strategy is fruitful and allows us to further strengthen our foothold and develop our relationship with clients active in the region. We are looking forward to joining efforts with Ariosh Engineering on this project to ensure a safe, high quality and efficient execution”, says Steinar Riise, CEO of Ocean Installer.

Offshore operations will be performed by the construction support vessel Normand Vision and commence Q1 2016. Engineering for the project will be performed across Ocean Installers offices in Stavanger, Aberdeen and Houston in order to meet the demanding schedule of this fast track project.

The Aje field is located in Oil Mining Lease 113 (OML 113) in the Benin Basin, about 24km offshore of western Nigeria. The water depth in the region is at about 900 meters (3 000 feet).

Correct participating interest in the Aje field: Yinka Folawiyo Petroleum with 60% interest, New Age Exploration Nigeria Limited 12,83%, FHN 113 Limited/YFP 9%, EER Colobus Nig Ltd 9%, Pan Petroleum Aje Limited 6,5% and PR Oil & Gas Nigeria Limited 2,66%.

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About Ocean Installer

Ocean Installer is a subsea company headquartered in Stavanger, Norway and with offices in Aberdeen, Houston, Mexico City, Perth, Dubai and Rio de Janerio. Ocean Installer holds strong EPCI expertise within the SURF (Subsea, Umbilicals, Risers, Flowlines) segment and is rapidly expanding its operations and organisation within and beyond the North Sea basin.

Ocean Installer provides its clients with recognised first-rate assets and has secured long-term charters on three construction support vessels (CSV): Normand Clipper, Normand Mermaid and Normand Vision. Ocean Installer will continuously invest and develop its assets to fulfill its ambition to be a key service provider within the SURF segment.

Ocean Installer is majority-owned by HitecVision, a leading investor in the oil and gas industry.

Ocean Installer holds FPAL- and Achilles certifications, with systems established in accordance with the requirements set out in ISO 9001, 14001, 18001 and 31 000 standards.

For further information, please visit: www.oceaninstaller.com