Subsea services

A long track record of leading in IMR & light construction

Renewables

Advancing Floating Wind Services

Marine management

Setting the standard in ship management since 1981

The fleet

Modern, purpose-built OSVs & subsea assets

Sustainability

A responsible partner

Vision, values, & history

We are a values-driven organisation

Board & Management

Meet our Board of Directors & executive management

HSEQ

Health, Safety, Environment, & Quality

Newsroom

Read our press releases & announcements

Our people

Meet our wonderful employees & how to join the team

Careers

Learn about our many career paths

Vacancies

Direct access to all of our opportunities

Ethics Helpline

Reporting your concerns

Visit us on LinkedIn

Reports & presentations

Key investor publications

Financial calendar

Key dates for investor events, financial reports, & presentations

Webcast

Investor webcasts

Shareholder information

Analyst coverage, key figures, & event support

Financial news

Read our press releases & latest IR updates

Our newsroom

DOF Group ASA - Invitation to presentation of Q1 2025 results

articles

Select a category.

No articles found.

DOF Subsea

DOF Subsea is pleased to announce that Mr. Steinar Riise has been appointed as CCO for DOF Subsea effective November 1st and have key relationships with DOF Subsea's internal and external stakeholders globally. Mr. Riise holds a master's degree from the University of Stavanger and has more than 20 years of experience in the oil and gas industry of which the last 15 years in senior management roles. He has held senior management roles such as Project Director Commercial Director and Engineering Manager in Subsea 7 Norway. Prior to joining DOF Subsea Mr. Riise has been engaged with setting up and leading Ocean Installer delivering full EPCI services for the SURF market through its establishment in Stavanger Aberdeen Houston Dubai Perth and Rio de Janeiro. Mons Aase CEO says ""The appointment of Mr. Riise is an important step towards realizing our vision of being a world-class integrated offshore company delivering marine services and subsea solutions responsibly balancing risk and opportunity in a sustainable way together every day. I look forward to working closely with our new CCO and I welcome Steinar to DOF Subsea"". DOF Subsea congratulates Mr. Riise with his new role and wishes him success with his responsibilities. For further information please contact: Mons S. Aase CEO DOF Subsea - Tel: +47 91 66 10 12 Marianne Møgster SVP Finance DOF Subsea - Tel: +47 99 30 69 16 About DOF Subsea: The DOF Subsea Group is a specialist subsea service business that provides subsea construction subsea engineering inspection repair and maintenance and survey services which involve complex and challenging engineering in an international environment. DOF Subsea owns a large fleet of modern subsea construction intervention and survey vessels that enable it to offer differentiated positions with its clients and work in long term relationships which enhance service delivery and reduce the overall risk. The company's core business is project management engineering vessel operations survey remote intervention and diving operations primarily for the Oil and Gas Marine Telecommunications and Renewables markets. www.dofsubsea.com "

DOF Subsea

Senior Executive appointment in DOF Subsea

October 15, 2018

DOF Subsea

DOF Subsea awarded Frame Agreement and several short-term contracts

September 7, 2018

Se vir algo fora do normal, levante a voz. Veja como:

Inglês AQUI

‍

Relatar

Caso se depare com alguma conduta inaceitável, ou possíveis ou potenciais violações de leis ou políticas da empresa, relate o fato imediatamente.

Além do Código de Conduta Empresarial, um guia rápido foi preparado a respeito de preocupações com relatórios.

"Fala Pela Ética" guia rápido (PDF)

A DOF estimula seus funcionários a relatarem suas preocupações a seus supervisores ou qualquer membro sênior de sua unidade de negócios. Caso não se sinta à vontade em relatar suas preocupações diretamente, poderá utilizar a linha terceirizada (Helpline), dedicada para assuntos relacionados à Ética.

A Helpline para assuntos Éticos é gerenciada por terceiros com recursos humanos próprios. Está disponível via link no BMS, Portal e Website, 24 horas por dia, 7 dias por semana e em diferentes idiomas. Onde permitido por lei, as denúncias poderão ser anônimas. Os atendentes irão orientá-lo em caso de conflitos com leis locais ou regras especiais que porventura se apliquem

Uma vez na página do Helpline, você poderá optar por:

RELATAR ONLINE
‍Você será requisitado a preencher um formulário. O formulário conterá algumas perguntas. Lhe será dado a opção de relatório aberto ou anônimo. Lhe será fornecido um número de protocolo para que acompanhe o progresso da queixa.

RELATAR VIA TELEFONE
‍Na prática, bastante similar ao relatório online. No entanto, você será orientado pelos atendentes da Helpline sobre o preenchimento do formulário.

RELATÓRIOS DE FOLLOW UP
‍Esta é a ferramenta utilizada pela equipe de investigação para comunicar-se com o usuário, assim como para enviar-lhe informações sobre o assunto.
‍

Acessando a "helpline"

NOTA! Antes de clicar no link abaixo, recomendamos que você leia a seção acima, "Relatar".

Grupo DOF Helpline de Ética *

* A "Helpline" de Ética, a partir de 1 de novembro de 2018, substitui o anterior procedimento de "whistleblowing" do Grupo.

‍

Other

"Helpline" de Ética

September 1, 2018

DOF Subsea

DOF Subsea Interim Financial Report Q2 2018

August 22, 2018

Historical OSE Notices

DOF Subsea awarded SURF contract for the Skandi Constructor

March 24, 2022

Historical OSE Notices

Woodside Energy awards DOF Subsea Enfield XT Retrieval and Offshore Support Services Contract.

March 23, 2022

Historical OSE Notices

Contract awards

March 15, 2022

In response to recent queries from shareholders regarding whether the financial restructuring that DOF ASA ("DOF" or the "Company", and together with its subsidiaries the "DOF Group") is seeking to agree with the creditors of the DOF Group will be required in light of recent market developments, the Company would like to reiterate that a financial restructuring of the DOF Group's capital structure will be required due to the significant debt level of the DOF Group. As previously communicated by the Company, a robust long-term financing solution is required for the DOF Group to maintain its status as a going concern. Such solution is still expected to require conversion of substantial amounts of debt to equity, which will significantly dilute the current holders of the equity. The current proposal being discussed with the secured creditors and bondholders of the DOF Group does not contemplate any unequal treatment of the shareholders of the Company. As previously informed, the dialogue with the lenders is complex, but constructive. A refinancing solution is not yet in place, and no assurance can at this stage be given that the Company will be able to find a solution with its creditors. If such solution is agreed, the shareholders are urged to consider the proposal when presented by the Company. For further information, please contact: CEO Mons Aase, tel. +47 91 66 10 12 CFO Hilde Drønen tel. +47 91 66 10 09 With a multi-national workforce of about 3,800 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 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, 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, Argentina, Canada, Angola, and Australia. DOF ASA is listed on the Oslo Exchange since 1997.

Historical OSE Notices

DOF ASA - FINANCIAL RESTRUCTURING

March 11, 2022

Reference is made to previous announcements regarding the extension of standstill arrangements with the DOF group's secured lenders expiring 28 February 2022 and extension of standstill arrangements with bondholders in DOF Subsea AS' bond issues also expiring 28 February 2022. DOF ASA and DOF Subsea AS are pleased to announce that each of the companies have agreed to further extend the principal and interest suspension agreements with, or received extensions of similar concessions from, secured lenders representing in total 91% of the secured debt of DOF ASA and DOF Rederi AS and in total 95% of the secured debt of companies within the DOF Subsea AS group (excluding DOF Subsea Brasil Servicos Ltda.) until 31 March 2022. Reference is further made to the previous announcement on 11 February 2022 regarding summons to bondholders' meetings in DOFSUB07 (ISIN NO0010971005), DOFSUB08 (ISIN NO0010788177) and DOFSUB09 (ISIN NO0010836810) in which DOF Subsea AS requested an extension of the standstill period for the three bonds initially until 31 March 2022 and with the possibility to extend to 30 April 2022 with the approval of an ad-hoc committee of bondholders. DOF Subsea AS is pleased to announce that the bondholders' meetings were held today and the proposed resolution received 100.00%, 96.33% and 100.00% of the votes in DOFSUB07, DOFSUB08, and DOFSUB09, respectively. Approval of the proposal set out in the summons required 2/3 majority in all three bonds, and the proposal was consequently approved. Please see the attached minutes from the bondholders' meetings. The extensions of the standstill periods will facilitate the DOF group's continued dialogue with its secured lenders and the bondholders under the DOF group's bonds regarding a long-term financial restructuring of the DOF group. For further information, please contact: CEO Mons Aase, tel. +47 91 66 10 12 CFO Hilde Drønen, tel. +47 91 66 10 09 With a multi-national workforce of about 3,800 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 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, 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, Argentina, Canada, Angola, and Australia. DOF ASA is listed on the Oslo Exchange since 1997.

Historical OSE Notices

DOF ASA AND DOF SUBSEA AS: FURTHER EXTENSION OF STANDSTILL AGREEMENTS WITH SECURED LENDERS AND RESULT FROM BONDHOLDERS' MEETINGS

February 28, 2022

Historical OSE Notices

DOF Subsea has chartered a second Jones Act vessel to support ongoing operations in the Gulf of Mexico (GOM)

February 28, 2022

The Group's revenue for 4th quarter (management reporting) totals NOK 1,975 million (NOK 1,680 million) and EBITDA totals NOK 753 million (NOK 606 million). The operating profit (EBIT) is NOK 264 million (NOK -335 million), of which depreciation and impairment totals NOK 489 million (NOK 941 million). Net result is NOK -281 million (NOK 238 million). The Group's revenue in 2021 (management reporting) totals NOK 7,544 million (NOK 7,582 million) and EBITDA totals NOK 2,790 million (NOK 2,990 million). The EBITDA includes NOK 109 million (NOK 19 million) in gain from sale of assets. The operating profit (EBIT) in 2021 totals NOK 946 million (NOK -1,771 million). Net result for the year is NOK -630 million (NOK -4,959 million). Key information: Operations . Average utilisation of the fleet is 82% (68%) . High utilisation in all segments, but with seasonal variations in some of the regions . A good performance from the subsea regions has continued in the quarter . The total fleet includes 59 vessels (eight vessels on management or hired in) o 15 AHTSs, 14 PSVs and 30 Subsea vessels o Two (owned) vessels in lay-up o Two vessels agreed sold (one vessel delivered in January 2022) Finance: . The Group's financial position is not sustainable, and a long-term financial solution is necessary to continue as going concern. . The dialogue with the lenders concerning a robust long-term financial solution has had progress through the quarter and year to date. There are certain issues pending, hence the outcome of the restructuring process is still uncertain. . The current standstill agreements with the lenders and bondholders mature on the 28th of February 2022. Backlog . Order intake NOK 1 billion in the 4th quarter . Current backlog is NOK 14.4 billion (NOK 15.3 billion) Please see enclosed 4th quarter Financial Report 2021. Webcast is available Friday, 25th of February at 08:30 on www.dof.com. Contact: CEO Mons Aase, Tel + 47 91 66 10 12 CFO Hilde Drønen, Tel + 47 91 66 10 09 With a multi-national workforce of about 3,800 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 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, 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, Argentina, Canada, Angola, and Australia. DOF ASA is listed on the Oslo Exchange since 1997.

Historical OSE Notices

Financial Report 4th quarter for DOF ASA

February 25, 2022

Historical OSE Notices

Invitation to presentation of Q4 2021 results

February 16, 2022

Reference is made to the resolutions adopted in the bondholders' meetings in DOF Subsea AS' three bond loans (FRN DOF Subsea AS Senior Unsecured Bond Issue 2013/2020, DOF Subsea AS 9.50% Senior Unsecured Bond Issue 2017/2022 and FRN DOF Subsea AS Senior Unsecured Bond Issue 2018/2023) on 30 September 2021, whereby the bondholders on certain conditions approved to extend their waiver from, and suspension of, all payment obligations under each of the bond loans until 31 October 2021, with a possibility to further extend the standstill arrangement currently in place to 28 February 2022 with the approval of the ad-hoc committee of bondholders. Reference is further made to the announcements on 29 October 2021, 30 November 2021 and 31 January 2022 regarding the ad-hoc committee's approval of extension of the standstill arrangement with the bondholders described above to 28 February 2022. Discussions and negotiations on the restructuring of the DOF group (the "Group") are progressing, and the Group, its secured lenders and the advisers to the bondholders have since the bondholders' meetings in September 2021 continued negotiations on an overall financial restructuring of the Group. Further progress has been made in such negotiations, but there are still certain issues that remain to be resolved to achieve an overall consensual restructuring of the Group. DOF Subsea AS has therefore requested Nordic Trustee AS to summon bondholders' meetings in the three bond loans to consider the extension of the standstill period initially until 31 March 2022 and with a possibility to extend the standstill period on one or more occasions to 30 April 2022 with the approval of an ad-hoc committee of bondholders. The proposal is further described in the attached summons to the bondholders in the three bond loans. A request has also been made to the Group's secured lenders to extend the suspension of payments of principal and interest that have been granted by a majority of its secured lenders. For further information, please contact: CEO Mons Aase, tel. +47 91 66 10 12 CFO DOF ASA Hilde Drønen, tel. +47 91 66 10 09 With a multi-national workforce of about 3,800 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 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, 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, Argentina, Canada, Angola, and Australia. DOF ASA is listed on the Oslo Exchange since 1997.

Historical OSE Notices

SUMMONS TO BONDHOLDERS' MEETINGS IN DOF SUBSEA AS - REQUEST TO FURTER EXTEND STANDSTILL PERIOD

February 11, 2022

Our newsroom

DOF Group ASA - Invitation to presentation of Q1 2025 results

DOF Group ASA - Invitation to presentation of Q1 2025 results

DOF Subsea Asia Pacific awarded IMR contract extension

DOF Subsea - successful placement of new unsecured bond issue

DOF Subsea Interim Financial Report Q3 2018

DOF Subsea contemplating new unsecured bond issue

DOF Subsea - Fixed Income Investor Meetings

Senior Executive appointment in DOF Subsea

DOF Subsea awarded Frame Agreement and several short-term contracts

Relatar

Acessando a "helpline"

"Helpline" de Ética

DOF Subsea Interim Financial Report Q2 2018

DOF Subsea awarded SURF contract for the Skandi Constructor

Woodside Energy awards DOF Subsea Enfield XT Retrieval and Offshore Support Services Contract.

Contract awards

DOF ASA - FINANCIAL RESTRUCTURING

DOF ASA AND DOF SUBSEA AS: FURTHER EXTENSION OF STANDSTILL AGREEMENTS WITH SECURED LENDERS AND RESULT FROM BONDHOLDERS' MEETINGS

DOF Subsea has chartered a second Jones Act vessel to support ongoing operations in the Gulf of Mexico (GOM)

Financial Report 4th quarter for DOF ASA

Invitation to presentation of Q4 2021 results

SUMMONS TO BONDHOLDERS' MEETINGS IN DOF SUBSEA AS - REQUEST TO FURTER EXTEND STANDSTILL PERIOD