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

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