Press Releases

Oceanteam ASA (OSL:OPU) Today, at 4PM, Oceanteam ASA's second DP2 vessel, the CSV North Ocean 102 will be christened. The ceremony will take place in Vigo, Spain, where the vessel was constructed by Metalships. In January 2009, this second vessel in Oceanteam's 100 series will start working on a project by project basis for the Mexican Offshore Construction and IMR Company CICSA.

The ship's godmother, Rocio Magallanes, wife of Eduardo Arana CICSA's Commercial Director, will christen the vessel 'North Ocean 102'.

The ship is 137 meter in length and has a 27 meter beam. When delivered she will be fitted with two 100ton cranes, a large moon pool and will be able to accommodate a crew of up to 199.

Like the Bourbon Ocean 101, the North Ocean 102 has been constructed at Metalships in Vigo, Spain. In the course of 2009 the North Ocean 103 will follow.

About Oceanteam ASA Oceanteam (Oslo Stock Exchange: OPU) is an offshore services company focused on servicing, installating, trenching and IMR of Flexible Flowlines, Umbilicals and Power Cables. This includes the provision of subsea services, installation teams, fully operational spreads and time charters. Oceanteam has offices in Norway, United Kingdom, Germany, Mexico, Angola, Dubai and the Netherlands. The company's target markets are Oil & Gas, Offshore Renewables including associated Grid Networks and Power Interconnectors.

For more information: www.oceanteam.no

Specifications of the ship can be found on page 2
Images: Images of the Cristening and the ship can be downloaded today after 8.30PM,from: http://oceanteam.documentonline.no

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For further information about Oceanteam please contact: CEO Haico Halbesma +31.6.5140 9987 haico@oceanteam.no VP Shipping Lex van Doorn +31.6.53200250 lex.van.doorn@oceanteam.nl





GENERAL DESCRIPTION Type: Construction Support/ Flexible Product installation vessel Classification: DNV +1A1 HELIDEK DYNPOS AUTR EO DK(+) NAUT-OSV, CLEAN COMF- (V3) Flag: Malta Year of Build: 2008 Builder: Metalships, Vigo, Spain Design: Sawicon

PRINCIPAL DIMENSIONS Length OA: 137.00 m Length BP: 120.40 m Beam: 27.00 m Draft max: 6.50 m Depth main deck: 9.70 m Speed: 15 knots

MAIN DECK AREAS Total: Approx. 2400 m2 Deck Strength Overall: 10 tons/mC

DECK EQUIPMENT Main crane: Hydramarine, 1. aft ships, PS Hydramarine 2. amid ships SS Each crane: 100 tons AHC, @ 15 m 25 tons @ 32 m Provision crane: TTS, S.W.L 2 tons at 12 m each Moonpool: 7.2 x 7.2 (Optional)

WATERMAKERS Freshwater gen.: 2 off each 25 cu m per day

AUXILIARIES Harbour Mitsubishi, 600 kW Generator:

MAIN ENGINES Number and Power: Wärtsilä, 4 off, 2700 kW each

Propulsion: Rolls-Royce, Two azimuth thrusters with nozzles each 3500 kW Bow thrusters: Rolls-Royce 1 off 1500 kW Hinged Azimuth 1 off 1500 kW electric driven 1 off 1500 kW electric driven



DYNAMIC POSITIONING SYSTEM Make: Simrad Duel System SDP 21 DP Class: DNV Dynpos AUTR, complies NMD class 2 Reference syst.: Simrad HIPAP DGPS 2 off Taut Wire System Fan Beam system

CAPACITIES Deadweight 6.5 m draft: 10 000 tons Fuel oil: Approx. 1200 mD Potable water: Approx. 1000 mD Ballast water: Approx. 4000 mD

CLIENT & OFFICE FACILITIES Survey offices: On-/offline office and conference room Offices: 2 large offices available for client workshops: One on main deck and one below main deck Clean power supply: Sufficient UPS Systems available

ACCOMMODATION Number of berths: 199 + 4 in hospital

Number of 20 single and 32 double cabins, cabins: 1 triple and 28 for 4 persons

Mess room seats: 60 Seats

Recreation rooms: 43 Seats

Conference rooms: 12 Seats

Internet room 4 seats

Reception Reception room for helicopter rooms: deck , 12 seats

Recreation facilities: Gymnasium and sauna

Cinema 40 seats

HELIDECK Size: D-Value 20.8 m Suitable for Sikorsky S-92 (12.3 ton)

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Oceanteam ASA

http://www.oceanteam.no

ISIN: NO0010317316

Stock Identifier: XOSL.OPU