NEW RSV SUPPORT CONTRACT IN BRAZIL

Mon, Oct 13, 2008 12:40 CET

DOF ASA (DOF) and DOF Subsea ASA (DOFSUB) have entered into a Charter agreement with Petrobras for delivery of an ROV Support Vessel (RSV). The vessel Skandi Chieftain will be used to execute this contract. DOFSUB will use a Work ROV (WROV) and an Observation ROV (ObsROV). Commencement will be March 2009. The duration of the firm contract is 3 years.

Total contract value for the firm period is approx NOK 510 million, of which DOF’s share is approx. NOK 265 million and DOFSUB’s share is approx NOK 245 million.

Skandi Chieftain is a PSV of MT 6009 design built in 2005.