DOF Subsea is pleased to announce the award of a long-term contract to provide a
Multi-Purpose Supply Vessel (MPSV) to Esso Australia Pty Ltd.
DOF Subsea Australia Pty Ltd, a subsidiary of DOF Subsea AS, has signed a three
-year firm plus 2 x 1 year options contract to provide an MPSV to Esso Australia
Pty Ltd.
Preparatory support services associated with the contract are underway with
delivery of the vessel to follow later in 2022.
Mons S. Aase, CEO DOF ASA comments: "This is our second long term contract with
Esso in Australia and a very important win for us. The award builds on the
successful marine services we have delivered to Esso Australia over the last two
years, our reputation as a trusted partner and is another step in our strategy
to grow our fleet in the APAC region. We look forward to working with Esso
Australia to deliver safe and efficient world class marine services".
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
Contract awards
DOF Subsea Awarded Esso Australia Contract
February 4, 2022
Reference is made to our previous announcement on 30 November 2021 regarding the
extension of standstill arrangements with the group's secured lenders expiring
31 January 2022 and extension of standstill arrangements with bondholders in DOF
Subsea AS' bond issues also expiring 31 January 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 28 February 2022, and that
DOF Subsea AS has received confirmation from the ad hoc group of bondholders
that they have agreed to further extend the suspension, deferral and standstill
agreement currently in place for the bond issues to 28 February 2022 in
accordance with the resolutions of the bondholders' meeting held 30 September
2021.
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
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.
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 BONDHOLDERS
January 31, 2022
DOF Subsea is pleased to inform that a key Renewables Client has awarded an
extension to an ongoing subsea Construction contract in the North Sea.
In direct continuation of the ongoing project, Skandi Acergy shall be further
utilized up to 169 vessel days.
The contract extension includes project management, engineering and range of
bespoke equipment and services tailored towards the Renewables segment. The
project shall be delivered by an integrated DOF Subsea team located in Aberdeen,
Scotland.
DOF Subsea has also been awarded a new project in Trinidad & Tobago for the
vessel Skandi Constructor. The project will commence in early January with an
estimated duration of approximately 40 days plus mobilization and
demobilization. The vessel, already in Trinidad after completion of a light
construction project.
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 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
Contract awards
Contract awards DOF Subsea
January 14, 2022
DOF Subsea Australia is pleased to announce it has been awarded Beach Energy's
Otway Offshore Phase 5 - Transport and Installation Project.
After collecting all permanent equipment from vendors and transportation to the
offshore site, the campaign execution will cover installation of the subsea
infrastructure for four (4) new Thylacine wells. This will include installation
of subsea umbilicals, flexibles flowlines and connectors, structures and rigid
spools.
The contract scope includes Project Management, Engineering, Fabrication,
Transportation and Installation Services and is expected to be completed in Q1
2023. The project will be executed using DOF Subsea's Construction Support
Vessel Skandi Acergy.
Mons Aase, CEO DOF Subsea AS, said, "This is an extremely exciting award, and we
look forward to working with Beach Energy to deliver safe and efficient
project."
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 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
Contract awards
Beach Energy award DOF Subsea Otway Offshore Phase 5 Project contract
December 17, 2021
Reference is made to previous announcement on 29 October 2021 regarding the
extension of standstill arrangements with the group's secured lenders expiring
30 November 2021 and extension of standstill arrangements with bondholders in
DOF Subsea AS' bond issues also expiring 30 November 2021.
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 January 2022. Certain of
the secured lenders' approval to extend the suspension agreements beyond 31
December 2021 remains subject to credit approval, but it is expected that such
credit approvals will be forthcoming before the end of December 2021.
DOF Subsea AS has also received confirmation from the ad hoc group of
bondholders that they have agreed to further extend the suspension, deferral and
standstill agreement currently in place for the bond issues to 31 January 2022
in accordance with the resolutions of the bondholders' meeting held 30 September
2021.
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
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.
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 BONDHOLDERS
November 30, 2021
Financial calendar for DOF ASA
FINANCIAL YEAR 2021
25.02.2022 - Quarterly Report - Q4
FINANCIAL YEAR 2022
25.08.2022 - Half-yearly Report
08.04.2022 - Annual Report
24.05.2022 - Annual General Meeting
19.05.2022 - Quarterly Report - Q1
15.11.2022 - Quarterly Report - Q3
24.02.2023 - Quarterly Report - Q4
This information is published pursuant to the requirements set out in the
Continuing obligations.
Historical OSE Notices
Financial calendar
November 11, 2021
The Group's revenue for 3rd quarter (management reporting) totals NOK 2,052
million (NOK 2,027 million) and EBITDA totals NOK 865 million (NOK 879
million). Including in EBITDA is gain on sale of vessels of NOK 44 million (NOK
12 million). The operating profit (EBIT) is NOK 488 million (NOK -46 million),
of which depreciation and impairment totals NOK 377 million (NOK 925 million).
Net profit is NOK -128 million (NOK - 406 million).
Key information:
Operations:
. Average utilisation of the fleet 83% (71%)
. High utilisation in all segments
. Good performance from the subsea regions
. The total fleet includes 59 vessels (eight on management or hired in)
o 15 AHTS, 14 PSV and 30 Subsea vessels
o Two vessels agreed sold with delivery in 2022
o One vessel in lay-up
Finance:
. The dialogue with the lenders concerning a robust long-term financial
solution has had progress during 3rd quarter. The discussions continue, and
there are important issues pending, hence the outcome of the restructuring
process is still uncertain.
. The current standstill agreements with the banks and bondholders mature on
30th November.
. DOF Subsea has during the quarter repaid a loan facility at a substantial
discount.
Backlog
. Order intake NOK 2.8 bn in 3rd quarter
. Total backlog NOK 15 bn
Please see enclosed 3rd quarter Financial Report 2021.
Webcast is available Wednesday, 10th of November 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 3rd quarter for DOF ASA
November 10, 2021
DOF Subsea Rederi III AS, a wholly owned subsidiary of DOF Subsea AS, has agreed
to sell the vessel "Geosund" to an international buyer. The estimated delivery
of the vessel to the new owner is in Q1, 2022.
Geosund was built in 2001 as a PSV and rebuilt to a CSV in 2006.
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 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
Sale of vessel
November 9, 2021
DOF ASA will release the Q3 results on Wednesday 10th of November 2021. The
report will be available at www.dof.com and www.newsweb.no.
The presentation will be held as a webcast at 08:30 CET the same day on:
http://www.dof.com/webcast.
The presentation will be held by CEO Mons S. Aase and CFO Hilde Drønen.
If you have questions, please contact the Company.
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
Invitation to presentation of Q3 2021 results
November 2, 2021
