Solstad Charters 2 AHTS Vessels to Newfield, Murphy Oil

Solstad Offshore has entered into a long term contract for the AHTS's Normand Atlantic and Normand Ivan.

The contracts duration is 26 months with a value of approximately NOK 800 million. It is Newfiled (2 months) and Murphy Oil (24 months) that will employ the vessels in their operations in Malaysia.

Commencement of the contracts is approximately February 1, 2009, in direct continuation of existing contracts. Both Normand Atlantic and Normand Ivan have been on contract with the same charterer since ultimo 2004.