Fleet update. Term contract and reactivation

GEOS have secured term contract for the vessel Energy Scout and have started the reactivation process

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GOLDEN ENERGYOFFSHORE SERVICES AS has secured a term contract for vessel Energy Scout, and have allready started the reactivation process. The vessel has been 16 months in warm lay-up due to the downturn in the market that was caused by the Covid-19 pandemic. The term contract for the vessel is to a first class international operator and work scope consist of Survey; both Geotechnical and Geophysical, and IMR duties. This new contract are entered into on today's market terms and GEOS are happy to announce that term contracts for 4 of its 4 vessels are secured, we have well in excess of 90% utilization until Q4-22,  in an market that are improving and forecasted to continue improve.

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Please feel free to contact us if you need any further information.

Per Ivar Fagervoll
Chief Executive Officer