DOF Group ASA (“DOF”) is pleased to announce two new contracts in Brazil.
Skandi Logger, an AHTS with 250t bollard pull built in 2009, has been contracted for a 4-year engagement with Petrobras, following the same competitive AHTS tender process that resulted in the contracts of Skandi Iguaçu, Skandi Angra, Skandi Paraty and Skandi Urca as previously announced. For this contract, expected to start in February 2026, Skandi Logger will be reflagged to Brazilian Flag.
Resulting from another competitive tender process, Skandi Achiever has been contracted as RSV for a 4-year engagement with Petrobras. Expected commencement is in December 2025, in direct continuation of her current contract with another client in Brazil. Petrobras’ contract foresees the utilisation of Achiever's 2 WROVs and subsea crane.
The two contracts have a combined value of more than USD 275 million.
For further information, please contact:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
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DOF is pleased to announce that Petrobras has awarded new long-term charter and service contracts to Norskan Offshore Ltda. and DOF Subsea Servicos Brasil Ltda, after a competitive tender process.
The vessel Skandi Amazonas (324 t BP) that was on the spot market is chartered for 3 years firm with 2 years mutually agreed option via Petrobras tender issued late in 2023, to operate as a AHTS 270t BP. Vessel is now in process to be adapted to Petrobras contract with expectations to be delivered by mid-May / mid-June 2024.
Skandi Rio (206 t BP), currently operating for Petrobras and equipped with DOF Subsea’s work class ROV, have been contracted for more 4 years firm + 1 year option with Petrobras, as a AHTS 180t BP + ROV, via the same tender as Skandi Amazonas. Contract commencement is planned within 3Q2024 in sequence to the current contract.
Both contracts will generate revenue beyond USD 192 M.
Mons S. Aase, CEO DOF Group ASA, said: “Building backlog into 2028 at today’s strong market rates is positive and we look forward to continue delivering Petrobras quality services.”
Please find attached the DOF Group ASA Integrated Annual Report 2023
>>> DOF Integrated Annual Report 2023 (PDF)
For further information please contact:
Mons S. Aase, CEO, Tel: +47 91 66 10 12
Hilde Drønen, CFO, Tel: + 47 91 66 10 09
FINANCIAL YEAR 2024
21.08.2024 - Half-yearly Report
22.04.2024 - Annual Report
23.05.2024 - Annual General Meeting
15.05.2024 - Quarterly Report - Q1
07.11.2024 - Quarterly Report - Q3
21.02.2025 - Quarterly Report - Q4
DOF Group ASA has updated its financial calendar for 2024, specifically that the annual report will be published today, the 22nd of April 2024.
This information is published pursuant to the requirements set out in the Continuing obligations.
The Board of Directors has today approved DOF Group ASA Integrated Annual Report 2023. The General Meeting is scheduled for Thursday 23rd of May 2024 in accordance with the financial calendar. Notice of General Meeting and the agenda with attachments will be published through Oslo Børs and www.dof.com. The Notice of General Meeting will be sent by post to shareholders who have not given explicit consent for electronic communication of notices.
For further information please contact:
Mons S. Aase, CEO, Tel: +47 91 66 10 12
Hilde Drønen, CFO, Tel: + 47 91 66 10 09
Find below links to DOF company ARP reporting for year 2023.
Click the company name to visit the equalitycheck.com hosted report:
> DOF AS
> DOF Subsea AS
> DOF Subsea Norway AS
> DOF Subsea Norway Offshore AS
> DOF Sjø AS
> DOF Management AS
DOF Rederi AS has sold the 2011 built PSV, Skandi Gamma.
The vessel will be delivered to the new owners in April and DOF will continue as technical and commercial manager for the vessel.
Mons S. Aase, CEO DOF Group AS, says: "The sale of another PSV is in line with our long-term strategy to focus on the integrated subsea services and the short to medium term focus on optimising the combination of earnings and vessel values from our PSV fleet. With this sale the leverage of DOF Rederi AS is further reduced to approximately 1.5x NIBD/EBITDA using 2023 earnings".
For further information, please contact:
Mons Aase, CEO, DOF Group ASA
Phone: +47 91661012
Hilde Drønen, CFO, DOF Group ASA
Phone: +47 91661009
E-mail: hilde.dronen@dof.com
DOF has been awarded a contract for a construction transport & installation (T&I) project in West Africa.
The project includes installation of flexible product and various subsea structures.
DOF shall utilise the vessel Maersk Installer for the project, with a duration between 100 - 150 days.
Mons S. Aase CEO DOF Group ASA, comments: "With the recently announced award from Shell this is the second large job won for the Maersk Installer in the last few weeks. After this award the backlog for Maersk Installer is strong in 2nd half 2024. This award once again demonstrates DOF`s capability to deliver deep-water installation scopes to the energy sector. We look forward to delivering this project safely to our client".
Preparations has already started, and offshore execution is planned to Q3, 2024. The contract value is in the range USD 19 - 29 million.
For further information, please contact:
Mons S. Aase, CEO DOF Group ASA
Phone: + 47 91 66 10 12
E-mail: mons.aase@dof.com
DOF has been awarded a Substantial Subsea Engineering Procurement Removal and Disposal (EPRD) Contract from A/S Norske Shell in the Atlantic region, with more than 100 combined days utilisation of the vessels Skandi Hera and Maersk Installer. DOF shall deliver an integrated solution of project management, engineering, design, analysis and survey. The scope includes recovery and recycling of umbilicals, risers, rigid spools, manifolds and other subsea structures and infrastructure, at the Knarr and Gaupe fields.
Mons S. Aase, CEO DOF Group ASA, comments: "The award continues to demonstrate DOF’s inhouse capability of offering turnkey solutions to our existing and new customers, building on our established capability offering in the decommissioning market."
Preparations have commenced and the project will be run from our offices in Bergen and Aberdeen with offshore execution planned in Q2 and Q3 2025.
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
DOF Group defines a Substantial contract as a contract with value between NOK 250 million to NOK 500 million