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2016-10-20

Oceanteam ASA: OCEANTEAM ASA - APPOINTS INTERIM CFO

Today the Norwegian-Dutch offshore service provider Oceanteam ASA
appointed Wilhelm Bøhn (48) as interim CFO.

Mr Bøhn, who holds an MBA from Columbia University and a BA from the Johns
Hopkins University, has a solid track record in corporate finance and has
been involved in a number of restructurings. Mr Bøhn will head the company's
financial department and in particular lead the current financial
restructuring process.

"I am excited to assume my new role and resulting responsibilities", says
Bøhn. "Oceanteam records solid performances in its shipping and solutions
divisions. But its growth is restricted by a cost of capital that is too high
and its lack of financial flexibility to cope with and adapt to today's
market circumstances. I very much look forward to working closely with CEO
Haico Halbesma and the Board of Directors and with our banks, bondholders and
others parties to create a solid financial foundation for the company
together to take advantage of the opportunities ahead of us."

Oceanteam will present its Q3 accounts on 10 November 2016 at 8am in the Hotel
Continental in Oslo.

Also read:

"Oceanteam CEO Halbesma takes over CFO tasks"

"Oceanteam CFO Torbjorn Skulstad to leave company as of November 2016"

About Oceanteam ASA

The Company is comprised of two operating segments, Oceanteam Shipping and
Oceanteam Solutions. Oceanteam Shipping owns, charters and manages deep-water
offshore support vessels and fast support vessels. Oceanteam Solutions focus
is to provide its clients with complete offshore solutions. Oceanteam ASA has
been active in the industry as an offshore solutions provider for over ten
years.

For more information:www.oceanteam.no

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| For further information about Oceanteam ASA please contact: |
| CEO Haico Halbesma: +31 20 53 57 570, haico@oceanteam.no |
| CFO Wilhelm Bøhn: +47 47 23 64 34, wilhelm@oceanteam.no |
---------------------------------------------------------------
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 Corporate Solutions on behalf of Nasdaq 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: Oceanteam ASA via Globenewswire

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