CONTRACT AWARDS

DOF and DOF Subsea has been awarded several IMR and subsea installation contracts in the Asia Pacific and Atlantic regions, with a total contract value of approx. NOK 270 million. The contracts will secure utilization of the subsea project fleet in the regions.

In Asia Pacific, OMV New Zealand has awarded DOF Subsea an IMR contract, where the scope of work includes inspection and work on 8 mooring lines on the Maari field’s FPSO, Raroa, offshore New Zealand. The offshore phase of the project will be carried out during 1sthalf 2016, and the vessel Skandi Hercules will be utilized under the contract.

With this award, the Skandi Hercules is firm with IMR work up until end Q3 2016.

In the Atlantic region, DOF Subsea has been awarded commissioning support work for ENI at the Goliat field, and installation of mooring systems for BW Offshore in UK sector of the North Sea. The contracts will secure utilization of the regions subsea project fleet during first half 2016.

DOF is awarded a 75 days contract + options in Argentina, the contract will start in December and include one vessel and ROV services. Skandi Chieftain is utilized on this contract.

Mons S. Aase, CEO, stated, “I am pleased with the contract awards, securing utilization of people and assets in 2016.

DOF Subsea has provided IMR services on the FPSO Raroa in 2013, and I am pleased that OMV again has chosen our competent team in APAC to support them.”

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 of almost 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.