Floatel International Ltd: Presentation at Pareto Securities’ Energy Conference and intention to sell Floatel Reliance

2024-09-11

Oslo, September 11, 2024


Floatel International’s CEO Peter Jacobsson presented at the Pareto Securities’ Energy Conference today. The presentation is available on our website https://www.floatel.no/investors


During the presentation, we announced that the Group intends to sell Floatel Reliance before year-end. Floatel Reliance has been in lay-up since April 2016 and will require substantial reactivation before resuming operations, with a predicted lead time of 8-10 months. The reactivation cost is considered too high to create value for our shareholders and Floatel Reliance’s specification does not align with our strategy to serve tier 1 customers and high-end DP 3 markets.


If sold for recycling, Floatel Reliance will be recycled responsibly in accordance with applicable international standards and relevant regulations.


For further information, please contact:

Peter Jacobsson, CEO

Tel: +47 46 50 01 33; Mob: +47 934 00 232

Tomas Hjelmstierna, CFO

Tel: +47 46 50 01 33; Mob: +47 934 00 381


Download the presentation here