Ocean Yield announces investment in 2 vessels with long term charters to Aker BP ASA



Ocean Yield ASA ("Ocean Yield") has agreed to acquire two Platform Supply
Vessels ("PSVs") from BP Shipping for a total consideration of USD 105.4
million. Both vessels are on long term charters to Aker BP ASA ("Aker BP"). The
two vessels, "NS Orla" and "NS Frayja", were delivered in September and December
2014, respectively, and entered into 15 years bareboat charters starting as from
delivery of the vessels. The bareboat charter rates are USD 17,253 per day per
vessel, which gives a contribution to annual EBITDA of USD 12.6 million.

The vessels are expected to be delivered to a fully owned subsidiary of Ocean
Yield in June 2017. The acquisition will be financed by a combination of debt
and equity and Ocean Yield has received an offer for a senior secured loan
facility of up to USD 65 million with semi-annual instalments based on an
annuity profile and a tenor of 7 years.

Aker BP is a publicly listed E&P company with exploration, development and
production activities on the Norwegian Continental Shelf. Measured in
production, Aker BP is one of the largest independent oil companies in Europe.

Ocean Yield ASA's Chief Executive Officer Lars Solbakken said in a comment: "We
are pleased to announce the investment in two additional vessels on long term
charter, as it allows us to continue to grow and further diversify our
portfolio, adding a strong counterparty with a market capitalization of
approximately USD 5.4 billion."
Company contacts:

Lars Solbakken (CEO), Tel +47 24 13 01 90

Eirik Eide (CFO), Tel +47 24 13 01 91

Investor Relations contact:

Marius Magelie (SVP Finance & IR), Tel +47 24 13 01 82
Company information:

Ocean Yield ASA is a ship owning company with investments in vessels on long
-term charters. The company has a significant contract backlog that offers
visibility with respect to future earnings and dividend capacity. Ocean Yield
ASA has an ambition to pay attractive quarterly dividends to its shareholders.