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Highlights for the quarter

* Revenue from operations USD 12.4 million
* EBITDA from operations USD 6.8 million
* Operating profit of USD 2.2 million
* Net finance negative USD 2.8 million
* General&administration costs further reduced. Costs down by more than 30%
in 2015 compared to 2014.

* As a result of the successful implementation of the Company's
diversification strategy, Oceanteam Shipping ASA changed its name to
Oceanteam ASA, reflecting the Company's growth in solution-driven services.
* Our marine assets division RentOcean will now operate under the name
Oceanteam Solutions. This division combines high-end engineering know-how
and equipment capabilities in a single service for our clients.
* The construction of a large offshore construction support vessel, the
Tampamachoco I, for DOT Shipping is progressing as planned, and one major
step is already complete: the keel has been laid.
* Oceanteam Cable Solutions successfully performed a cable loadout at the
Velsen Noord base. The cable loadout is part of a long-term contract under
which Oceanteam Cable Solutions supplies the client with port facilities,
offloading and cable storage.
* Oceanteam Solutions won a contract for the supply of a 2500t onshore
turntable, accompanying equipment and cable crew for a storage and cable
loadout project in Belgium.
* KCI design engineering has been awarded various contracts and maintains its
backlog of projects in oil and gas, Offshore Renewables and Innovative
Equipment&Structure, both offshore and onshore.
* Oceanteam Shipping's CSV and FSV fleet is fully operational and most of the
vessels have contract coverage until early 2017 and beyond.

Subsequent events

* CSV Bourbon Oceanteam 101 expected to be released early from Angola
contract in May 2016. Under the terms of the charter contract, the owner of
the vessel will be reimbursed for the costs incurred and associated with
the early release and demobilisation of the vessel.
* Oceanteam started its next EUR 1 million utilization for its EUR 15 million
growth facility.
* Awarded contract for major cable transport and storage project to be
executed in 2016.
* Extended contracts for FSVs in Venezuela by six months with two optional
one-year extensions.
* Settled IP infringement case.
* DOT Radiance Ltd, a company jointly owned by DOT Holding and Pacific
Radiance, secured post-delivery financing from DBS Bank of Singapore.

Please find attached the complete Q4 2015 report and presentation.

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. This year,
Oceanteam ASA is having its ten year anniversary, celebrating a decade of
offshore solutions.

For more information:www.oceanteam.no

| For further information about Oceanteam ASA please contact: |
| CEO Haico Halbesma: +31 20 53 57 570, haico@oceanteam.no |
| CFO Torbjørn Skulstad: +47 55 10 82 40, torbjorn@oceanteam.no |
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.



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: Oceanteam ASA via Globenewswire


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