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2014-05-22

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.

****

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.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aqualis ASA via Globenewswire

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