OCEANTEAM ASA - REACHES AGREEMENT WITH MAJORITY OF BOND HOLDERS ON REFINANCING OF BOND LOAN AGREEMENT

Following the announcement of Oceanteam ASA ("Oceanteam" or "Company") on 12
January 2017 having reached an understanding with its bondholders on refinancing
its current bond loan agreement, the Norwegian-Dutch offshore service provider
with a listing on the Oslo Stock Exchange, today announces it has made the next
step forward by reaching an agreement with a qualified majority of its bond
holders on the main terms of the bond loan concerned.

This final agreement is the end result of the constructive talks the Company has
had with its banks and its bond holders as from the moment it announced its
financial restructuring in October 2016.  The agreement encompasses the
repayment of the bond in full, the extension of the loan maturity and a major
adjustment of interest costs concerned. However, it does not include any equity
offering. As announced earlier this year, both the Company and its bondholders
have also agreed that the upcoming proceeds from the sale of shares in the
Company's vessel North Ocean 105 will go towards repayment of vendors and of
secured lenders of Oceanteam.

Oceanteam's board and management say it is a critical milestone towards creating
a stronger financial foundation. "The progress and developments made so far
including the continued support provided by the Halbesma family as main
shareholders, show the commitment and strong belief in the future success of
Oceanteam. It will allow the Company to further develop its current market
activities, to take advantage of new business opportunities and allow us to
build long-term value for the benefit of all Oceanteam's stakeholders and
employees."

The next steps forward to complete and effectuate the agreement with bondholders
include a bondholder meeting scheduled on 2 May 2017 and a EGM on 9 May 2017.

Also read:

Bondholders' summit

Notice of EGM


Press releases:

Oceanteam ASA reports revenues of US$ 11.2 million in fourth quarter 2016

McDermott to exercise its option to purchase PLV North Ocean 105

Oceanteam ASA reaches understanding with bond holders on refinancing current
bond loan agreement


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 twelve years.

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 Wilhelm Bøhn:  +47 55 10 82 40 , wilhelm@oceanteam.no


This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.