CONTRACT AWARD FOR "NOR SUPPORTER"

Solstad Offshore ASA ("SOFF") has signed a contract
with Saipem Leighton Consortium (SLC) in Australia
for charter of "NOR Supporter" (AHTS/8.000bhp/2005).

"NOR Supporter" will support the DLB "Norce
Endeavour" at Barrow Island, Western Australia in
connection with the Chevron-operated Gorgon Project.
(ref. announcement dated 27.08.2012). The
mobilization of "NOR Supporter" will start in October
2012.

The contract value is confidential between the
parties.

The Gorgon Project is operated by an Australian
subsidiary of Chevron and is a joint venture of the
Australian subsidiaries of Chevron (47.3%),
ExxonMobil (25%), Shell (25%), Osaka Gas (1.25%),
Tokyo Gas (1%) and Chubu Electric Power (0.417%).

Skudeneshavn, 24. October 2012

Solstad Offshore ASA

Contact persons: Lars Peder Solstad (Tlf. +47 52 85
65 00)

This information is subject of the disclosure
requirements acc. to §5-12 vphl (Norwegian Securities
Trading Act)"