Letter of Intent (LOI) for a 1-year contract extension

DOF is pleased to announce that we have signed a LOI with a major Oil Company for extension of a large Subsea service contract in the Atlantic region.

Commencement will be in November 2023. Estimated revenue from the contract is approximately USD 60 million.

Mons S. Aase, CEO DOF Group ASA, says: “I’m very pleased with this award adding further backlog for the Group. This award and the award in Brazil announced yesterday lifts our secured backlog for 2024 to above NOK 10.5 billion. Compared to revenue LTM at NOK 11.9 billion we already have a strong basis for further earnings growth in 2024.”

For further information, please contact:

Martin Lundberg, SVP Finance and Investor relations DOF Group ASA
Phone: +47 916 21 057
E-mail: martin.lundberg@dof.com

About DOF Group ASA

With a multi-national workforce of about 4,000 personnel, DOF Group 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 40 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, 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, Argentina, Canada, Angola, and Australia.