Contract agreements with Subsea 7 for the vessels Skandi Acergy, Skandi Seven and Skandi Skansen

DOF Subsea, a subsidiary of DOF ASA, has reached an agreement with Subsea 7 for the chartering of the vessels Skandi Acergy, Skandi Seven and Skandi Skansen. Subsea 7 has committed to a 3-year firm period for the vessel Skandi Acergy, commencing in direct continuation of the current firm period. The vessel is then firmly contracted until August 2019.

For the vessel Skandi Skansen, the parties have agreed on a new contract for 2016 ensuring utilization for most of the summer season.

Skandi Seven will be redelivered to DOF Subsea on 1st January 2016. DOF Subsea has several chartered in vessels that can be redelivered to owners during the next three to twelve months compensating the redelivery of Skandi Seven.

In total, the agreed contracts will increase the firm backlog for 2016 and through to 2019.

For further information, please contact:

Mons S. Aase, CEO Tel: +47 91 66 10 12
Hilde Drønen, CFO Tel: +47 91 66 10 09

With a multi-national workforce in excess of 5,000 personnel, DOF ASA is an international group of companies which owns and operates a fleet of modern offshore/subsea vessels, and engineering capacity to service both the offshore and subsea market. With over 30 years in the offshore business, the group has a strong position in terms of experience, innovation, product range, technology and capacity.

DOF’s core businesses are vessel ownership, vessel management, project management, engineering, vessel operations, survey, remote intervention and diving operations primarily for the oil and gas sector. From PSV charter to Subsea engineering, DOF offers a full spectrum of top quality offshore services to facilitate an ever-growing and demanding industry.

The company's main operation centers and business units are located in Norway, the UK, the USA, Singapore, Brazil, Argentine, Egypt, Angola, and Australia.

DOF ASA is listed on the Oslo Exchange since 1997.