DOF Subsea, a subsidiary of DOF ASA, has sold the vessel Geobay

DOF Subsea Group has entered into an agreement where the 1978 built vessel Geobay is sold to a Middle East buyer.

The selling price is slightly above book value of the vessel.

The sale is expected to be completed after the ongoing project utilizing the vessel is finalized in May 2013.

For further information, please contact:

CEO, Mons S. Aase; +47 91 66 10 12

With a multi-national workforce in excess of 4,000 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.