New Long Term Contract to GOLDEN ENERGY OFFSHORE

Golden Energy Offshore Services AS (GEOS) has enteredinto a long term charter agreement with Repsol Norge AS, duration 1 year firm +1 years options for Energy Swan, the large size PSV of ST 216 L design, the contract commence end October - 21 , Energy Swan are presently working on short term contract to Wintershall Dea Norge until commencement of long term contract to Repsol Norge AS. CEO, Fagervoll is not willing to comment on contract and rate in detail, but confirm the contract secures employment for the Energy Swan to end 2022 (2023 if options used) on market levels.

In addition, GEOS will install shore power connections to facilitate use as per IEC PAS 80005-3, meaning the vessel diesel generators can be stopped whilst alongside where shore power facilities are available. This is in line with Golden Energy Offshore strategy - continuous focus on Green profile - reducing NOX, CO2 emissions and make vessels more energy effectiveand environmentally friendly.

Per IvarFagervoll, CEO - Golden Energy Offshore 'Golden Energy Offshore is a fully integrated ship owning company located in Ålesund, Norway with all management functions in-house and we look forward to working with Repsol Norge AS with ou rlarge size PSV Energy Swan and provide logistics services for these vessels for the benefit and success of both parties. We are both proud and humble by this award which we believe recognises our commitment to delivering safe, strong, energy efficient and reliable operational excellence through our teams both offshore and onshore'Fagervoll says in a statement.

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