Master Marine wins accommodation contract with Johan Sverdrup

Statoil has, on behalf of the Johan Sverdrup licence, awarded a contract to Jacktel AS, a wholly owned subsidiary of Master Marine AS, for providing accommodation services on the Johan Sverdrup field.
Jacktel AS, a wholly owned subsidiary of Master Marine AS, located in Oslo/Norway, has been awarded contract for the Haven jack-up accommodation rig for the installation and commissioning period for the Johan Sverdrup project phase 1.
Included in the accommodation services is bed capacity and catering services for project personnel. The accommodation rig will provide up to 400 beds.

To ensure required capacity for working at the Johan Sverdrup field, Haven will undergo an upgrade related to strength and length of the legs including provision of new spud-cans/suction-caissons. The upgrade is expected to be completed at a yard in Norway.
The contract period is 18 months with an estimated start 15 June 2018. In addition there are 5×2 months options. The total value of the firm contract period is approximately 178 million USD including expected upgrade cost of approximately 100 million USD.

Master Marine AS is a Norwegian accommodation provider, with a strong track record in providing safe, efficient, reliable and comfortable accommodation services. The company has since commencement of services provided clients with 100 % uptime and strong HSE results.

For further information:
Bjørn Henriksen                         +47 94 13 04 32
Executive Chairman                     

Thomas Gabestad                     +47 95 87 05 96
Managing Director & CFO