NEW CONTRACTS FOR DOF SUBSEA AS AND PURCHASE OF NEWBUILDING CONTRACT

Contract with Subsea 7 for one DOF Installer class vessel

DOF Subsea Chartering AS, a subsidiary of DOF Subsea AS, has signed a 4 year contract with Subsea 7. The contact will commence in February 2012. The firm period in 2012 is 185 days with 3 x 25 days options.

For 2013 and onwards the contact period will be between 100 and 200 days annually.

Contract for the Skandi Inspector

DOF Subsea UK Ltd., a subsidiary of DOF Subsea AS, has signed a one year contract with Integrated Subsea Services Ltd. for the Skandi Inspector. The contract will commence in April 2012.

Letter of Intent  (LOI) with major North Sea operator

DOF Subsea Chartering AS has received a LOI from a major North Sea operator for one construction vessel. Commencement is scheduled for second quarter 2012 and the period is 6 months firm plus 6 monthly options. The operator has options to utilise the vessel for the same period in 2013.

The total value for the three contracts, including options, is approximately NOK 1,0 Billion.   

Purchase of newbuilding contract

DOF Subsea  Rederi AS, a subsidiary of DOF Subsea AS, has purchased a newbuilding contract for a construction vessel. The vessel will deliver from STX OSV in May 2012. The vessel is equipped with 2 x WROVs and a 250 T AHC crane.

The vessel will be financed through a combination of mortgage loan and other credits.

For further information please contact: CEO Mons Aase, tel. +47 91661012

With a multi-national workforce in excess of 3,400 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 25 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.