diff --git a/README.md b/README.md
index 2d09962..940a70d 100644
--- a/README.md
+++ b/README.md
@@ -63,7 +63,7 @@ The default versions are always a combination of component versions which are co
 | Component name      | Required by        | Version                           | IP Address      | Ports exposed | 
 | --------------      | ------------------ | --------------------------------- | --------------- | ------------- |
 | ganache             |  ocean-contracts   | latest                            | 172.15.0.3      | 8545 -> 8545  |
-| ocean-contracts     |                    | v0.6.0                            | 172.15.0.14     |               |
+| ocean-contracts     |                    | v0.5.16                           | 172.15.0.14     |               |
 | Aquarius            |                    | v2.2.8                            | 172.15.0.5      | 5000 -> 5000  |
 | Elasticsearch       |  Aquarius          | 6.8.3                             | 172.15.0.6      |               |
 | Provider            |                    | v0.4.9                            | 172.15.0.4      | 8030 -> 8030  |
diff --git a/start_ocean.sh b/start_ocean.sh
index d5ce631..9bef524 100755
--- a/start_ocean.sh
+++ b/start_ocean.sh
@@ -30,7 +30,7 @@ COMPOSE_DIR="${DIR}/compose-files"
 
 export AQUARIUS_VERSION=${AQUARIUS_VERSION:-v2.2.8}
 export PROVIDER_VERSION=${PROVIDER_VERSION:-v0.4.9}
-export CONTRACTS_VERSION=${CONTRACTS_VERSION:-v0.6.0}
+export CONTRACTS_VERSION=${CONTRACTS_VERSION:-v0.5.16}
 export PROJECT_NAME="ocean"
 export FORCEPULL="false"
 
@@ -54,7 +54,7 @@ export GANACHE_MNEMONIC=${GANACHE_MNEMONIC:-"taxi music thumb unique chat sand c
 export OCEAN_HOME="${HOME}/.ocean"
 export CONTRACTS_OWNER_ROLE_ADDRESS="${CONTRACTS_OWNER_ROLE_ADDRESS}"
 export DEPLOY_CONTRACTS=true
-export OCEAN_ARTIFACTS_FOLDER="${OCEAN_HOME}/ocean-contracts/ocean_abis"
+export OCEAN_ARTIFACTS_FOLDER="${OCEAN_HOME}/ocean-contracts/artifacts"
 export ADDRESS_FILE="${OCEAN_ARTIFACTS_FOLDER}/address.json"
 echo "export ADDRESS_FILE=${ADDRESS_FILE}"
 # Specify which ethereum client to run or connect to: development