DOF SUBSEA REDERI AS, A SUBSIDIARY OF DOF ASA (DOF) HAS SIGNED AN AGREEMENT TO SELL A SHIP UNDER CONSTRUCTION

We refer to press release sent earlier today regarding sale of yard no. 771 at STX OSV AS to Commonwealth of Australia (COA).

The ship is sold for a price slightly below USD 130 million. The ship will be delivered to COA without it's subsea equipment, hereunder 2 WROVs, 250 T crane, and launch and recovery systems for the two WROVs.

DOF Subsea Rederi AS has today signed a building contract with STX OSV AS for a new vessel of OSCV 11 design. This new vessel is a lengthened version of yard no. 771 with a total length of approximately 121 m. The new vessel's yard no. is 776.

The subsea equipment from yard. no. 771 will be transferred to yard no. 776. Yard no. 776 will deliver from STX OSV in May 2013. Estimated project price for yard no. 776 is approximately NOK 660 million. This number includes the subsea equipment from yard no. 771 and DOF's estimated costs for construction supervision, spare parts and mobilisation.

Contact person;  CEO Mons S. Aase, tel. +47 91661012

With a multi-national workforce in excess of 3,400 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 25 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.

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With a multi-national workforce in excess of 2,200 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 25 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.

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