DOF Subsea contract awards

DOF Subsea, a subsidiary of DOF ASA, has been awarded several IMR and subsea installation contracts the past months, with a total contract value in excess of NOK 500 million. The contracts will secure utilization of the subsea project fleet in the regions.

In the Asia Pacific region DOF Subsea has been awarded an LOI from a key client for a EPCI project with the offshore phase during first half 2017. The scope of work includes supply chain management services for the fabrication and supply of mooring chains, replacement of eight mooring legs and PM&E.

In the Atlantic region, DOF Subsea has been awarded several contracts the past months. A highlight was the award of an FPSO mooring installation and hook-up contract by Yinson Production offshore Ghana, on the Eni operated OCTP field. The contract will secure utilization of the Atlantic organization and regional subsea vessels in Q4 2016 and Q1 2017, and the project will increase DOF Subsea’s presence in West Africa. Other highlights were the award of a 5-year pipeline inspection frame agreement for Maersk, and survey work for Nexans relating to the NordLink cable, connecting the Norwegian and German electricity markets. DOF Subsea also won repeat subsea work for Statoil, Maersk and other clients in the region.

In the North America region, DOF Subsea has been awarded several contracts with key clients in the Gulf of Mexico and offshore Canada. The scope of work includes survey, IMR and light construction. To service the contracts offshore Canada, DOF Subsea will charter the DOF-vessel Skandi Chieftain for a 100-day job, in addition to increasing the number of ROV systems deployed in the region.

Mons S. Aase, CEO, stated, “I am pleased with the contract awards, securing utilization of people and assets. The FPSO mooring award offshore Ghana, as well as allocating an additional vessel to the Canadian market, increases the Group’s global presence and improves our market access. This in combination with securing repeat business for our key clients will be important going forward.”

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.