Aqualis ASA : Several contract wins in Asia

Oslo, Norway, 22 May 2014

Aqualis ASA (OSE: AQUA) has won several new construction supervision, transportation & installation and marine warranty contracts in Asia. Total contract value is approximately USD 11 million.

"We have set up offices in nine countries, including Singapore and China, in less than 12 months.  Our regional Asian hubs are being well supported by our engineering and marine resources from our global office network around the world. This latest batch of prestigious contracts confirm that our cost-effective 'local presence - global support' strategy works for our customers," says Phil Lenox, the Singapore based Regional Director of Aqualis Offshore.

Aqualis Offshore in Singapore has been awarded several construction monitoring projects for jack-up rigs, including one for a KFELS B Class jack-up for Parden Holding S.R.L. at the Keppel FELS yard in Singapore.  Aqualis Offshore will also monitor the building of 2+2 JU2000E design jack-ups at the ZPMC shipyard in Nantong, China, for Lovanda Offshore Ltd and Lovansing Offshore Ltd, respectively.

The company has also secured recent and new awards for transportation & installation projects for Malaysia Marine & Heavy Engineering, where Aqualis Offshore have been retained as consultants for the loadout and successful floatover installation of the Tapis topside as well as for the forthcoming KBB topside loadout. The company has also secured a deal to provide similar consultancy services for Lundin Malaysia.

Within marine warranty services, Aqualis Offshore has secured a contract for the re-installation of the Newfield "LF7-2" topside floatover offshore China.   

Finally, within marine operations an award for assisting with the positioning of the Inpex Ichthys central processing facility offshore Australia, on behalf of POSH Terasea for Samsung Heavy Industries.

Aqualis Offshore is a specialized offshore marine and engineering consultancy firm, focusing on the shallow and deep-water offshore segments of the oil and gas industry. Its core services includes concept, FEED and basic design engineering for upgrades and conversion of jack-ups, FPSOs and rigs, marine warranty services, transportation and installation, rig moving, dynamic positioning, construction supervision and due diligence services.

Aqualis Offshore's contract party for the above-mentioned contracts is Aqualis Offshore Pte. Ltd.

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For further information, please contact:

Gunnar Manum
Acting CEO
+47 95 17 91 90
gunnar.manum@aqualis.no

Christian Opsahl
CFO
+47 901 10 153
christian.opsahl@aqualis.no

Aqualis ASA is a Norwegian public company focusing on building a profitable and successful business based on its key competences within the marine and offshore and healthcare sectors.

Aqualis Offshore is a specialized offshore marine and engineering consultancy firm, focusing on the shallow and deep-water offshore segments of the oil and gas industry. Its core services includes concept, FEED and basic design engineering for upgrades and conversion of jack-ups, FPSOs and rigs, marine warranty services, transportation and installation, rig moving, dynamic positioning, construction supervision and due diligence services. The company is currently operating out of 14 offices worldwide.

Aqualis Healthcare is focusing on securing potential value from its patent portfolio and licensing agreements generated by the former Clavis Pharma ASA, as well as investigating new investment opportunities within the healthcare sector. Aqualis Healthcare has a large portfolio of patents relating to its LVT-technology, as well as licensing agreements for the potential development of selected drug compounds.