DOF SUBSEA AWARDED CONTRACTFOR THE CHARTER OF NEW BRAZILIAN FLEXIBLE PIPELAY VESSEL

DOF Subsea announces that it has been awarded, in joint venture with Technip, its second flexible pipelay contract by Petrobras. The second ever pipelay vessel built in Brazil, Skandi Niterói has been awarded a four and half year charter and service contract.

The vessel will be used for flexible pipelines installation and retrieval offshore Brazil, at water depths reaching 2,300 meters. The contract includes an option for an additional four and a half year period. The joint venture already has Skandi Vitória, the first Brazilian built flexible pipelay vessel, operating for Petrobras since October 2010.

Skandi Niteroi, which is built and registered in Brazil, is fitted with a 270 ton lay tower and a 250 ton crane. She is able to carry up to 3,400 tons of flexible pipe and umbilicals.

The vessel was built at STX Europe´s yard in Rio de Janeiro, Brazil and is owned by the Technip/DOF Subsea joint venture.

Technip will provide Petrobras with the engineering and support services for offshore operations of the vessel, while Norskan (a DOF company) will provide Petrobras with the marine services.

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