Financial History

Master Marine ASA is a public limited liability company, incorporated in Norway on 25 October 1997. The Company operates under the law of Norway. The Company’s organization number is 879 342 732.
Master Marine’s business model is to be the preferred provider of load out, transportation, offshore installation and hook up of platform structures.
The history behind Master Marine ASA goes far beyond the OTC listing of the company. Master Marine and resources behind the company have more than 25 years experience from complex marine operations all over the world for major oil and shipping companies. Master Marine has been involved in offshore lifting and installation of large modules (up to 10,000 T), topside mating operations of deck structures up to 50,000 T (e.g. Hibernia, Gullfaks, Snorre A), heavy transport of drilling rigs and other large structures, subsea installations, as well as decommissioning.
The company signed in March 2007 a contract with Labroy Shipyard, now Drydocks World Graha, for two Service Jack units with an option for additional two units. Master Marine has also signed agreements with all the OFE vendors (cranes, main engines, thrusters and electrical/DPS).
Master Marine raised in mid May 2007 NOK 600 million in a private share offering and NOK 420 million in a convertible bond. In June 2008 the company raised an additional NOK 258 million in new equity as well as a 3 year secured EUR 60 million secured bond loan.
Master Marine ASA was listed on the OTC list on the Oslo Stock Exchange 23 May 2007 (ticker MAMA).
For further information please contact Per Johansson (CEO); This e-mail address is being protected from spam bots, you need JavaScript enabled to view it , or Anders Bruun-Olsen (CFO); This e-mail address is being protected from spam bots, you need JavaScript enabled to view it