DOF Group has been awarded several contracts with a total value of NOK 5,6 billion
Subsea contracts:
DOF Subsea Chartering AS, a subsidiary of DOF Subsea AS has entered into a time charter agreement with Technip UK Ltd. for hull no 800 under construction at Vard Group AS. The time charter contract commences on the vessel’s delivery from the construction yard in June 2015, with a firm period of 5 years, and with 5 x 1 years subsequent optional periods.
In Brazil, DOF Subsea has been awarded 5 ROV contracts by Petrobras. The ROV contracts have firm periods of 4 years, each with 4 years options. Three of the ROVs will be installed on DOF Group vessels and two ROVs will be installed on third party vessels. DOF Subsea Brasil will deliver ROV services for the contracts.
In the Asia Pacific region DOF Subsea has secured multiple contracts with key clients in Australian waters. The various work scopes include engineering and project management for FPSO installation and IMR services, survey and inspection diving works and mooring spread installation. In the Atlantic region DOF Subsea has been awarded a new contract from the Norwegian Coastal Administration for keel inspection on U864, the WW2 submarine wreck offshore Fedje. The award will secure utilization for the vessel Geosund during December 2013.
In the North American region DOF Subsea has been awarded a two years frame agreement for work in the Gulf of Mexico, securing a minimum of 55 days utilization on the vessel Harvey Deep-Sea each year. The scope of work comprise light construction and IRM services.
Supply:
In Brazil, Norskan has been awarded two contracts by Petrobras: the 1stcontract is for the AHTS vessel Skandi Ipanema and has a duration of 4 years firm + 4 years option periods. The contract is expected to commence 90 days after award, assumed early 2014.
The 2nd contract is for the AHTS vessel Skandi Botafogo. This contract commenced in November and has duration of 2 years firm.
DOF Subsea Brasil will operate the ROVs on both vessels.
In New Zealand DOF has been awarded two contracts for the AHTS vessels Skandi Pacific and Skandi Emerald. The contracts secure employment for both vessels until mid 2014.
Mons S. Aase, CEO, stated: “I am very pleased with the awarded contracts and the all-time high back-log. This ensures high earnings visibility for the DOF Group over the next few years.
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 4,300 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.