The contract will utilise Skandi Hercules with related mooring and subsea installation services...
DOF Group ASA (“DOF”) is pleased to announce a contract award for moorings hook-up services in the APAC region.
The contract will utilise Skandi Hercules with related mooring and subsea installation services. The scope of work includes DOF’s full suite of in-house project management, engineering, procurement and logistics support services.
Offshore execution is scheduled in Q1 2026, and the vessel utilisation under the contract is expected to be approximately four weeks.
The size of the contract is Limited, which DOF defines as a contract with a value of up to USD 15 million.
Contact information:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
Select a category.
No articles found.
DOF is proud to announce three new service contracts with Petrobras.
The contracts were originated by a competitive bid process won by DOF and include work within our core service lines for Survey and Inspection.
These contracts represent a continuation of the services handled by DOF on the PIDF123 contracts signed with Petrobras in 2020 and under operation since December of that year.
At least three vessels shall be utilised to perform flexible pipeline, risers and subsea equipment inspection in Campos Basin, Santos Basin, and Espírito Santos Basin. More than 3,200 inspections are expected to be executed.
The contracts are worth more than USD 260 million with planned commencement in Q4 2023 / Q1 2024 and estimated to be performed within 2 years.
Mons S. Aase, CEO DOF Group ASA said: "This is an important win securing high utilisation for us in Brazil and lifting the Group backlog to above NOK 25 billion. I’m very proud for the continued trust Petrobras give us for doing complex IMR work in very deep water."
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
Reference to the stock exchange notice September 6th 2021. The vessel Skandi Neptune has today been delivered to its new owner.
The sale proceeds will be used to repay debt.
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 has successfully attained the esteemed ‘Granted’ status within the Fit for Offshore Renewables (F4OR) initiative. This great achievement is a benchmark of DOF’s continued development in the renewable energy sector. The F4OR program was created by the renowned UK technology,innovation, and research institution known as the Offshore Renewable Energy(ORE) Catapult. Its primary goal is to strengthen the growth of a world-class, domestic supply chain centered around the offshore renewable energy sector.
DOF achieved the F4OR status in August of this year, after having undertaken the rigorous 12 months program with stringent performance criteria. This demonstrates that DOF has the relevant experience, competence and capabilities needed to meet the expected standards within the offshore windfarm sector.
"We are proud to be granted the highly regarded F4OR status. The program is a key milestone as we expand our renewables capabilities in the offshore wind sector "states Jan Kristian Haukeland, EVP Renewables, DOF Group ASA.
Haukeland adds, “as a result of the F4OR program, we expect to see an increased interest in DOF’s services to the offshore wind sector as we bring a wealth of knowledge and experience to the UK market, particularly in Floating Offshore Wind”.
For further information, please contact: Jan Kristian Haukeland, EVP Renewables, DOF ASA: Tel:+47 952 361 19.
DOF is pleased to invite you to a Capital Markets Day on Tuesday 19 September 2023 at 12:00-15:30 CEST. The presentation will be held physically at Pareto Securities’ offices at Dronning Mauds gate 3. Refreshments and networking opportunities will be available after the presentations.
CEO, CFO, IR, and managers of the renewables, Brazilian and US divisions will cover among others the following topics:
- General business update
- Brazil market
- US and Guyana market
- Floating Offshore wind
- Business outlook
- Q&A
Registration:
Click here to register
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
The Group's revenue for 2nd quarter (management reporting) totals NOK 3,524 million (NOK 2,500 million) and EBITDA totals NOK 1,349 million (NOK 851 million). EBITA margin of 38% (34%). The operating profit (EBIT) is NOK 1,412 million (NOK 505 million). Net financial cost amounts to NOK -48 million including unrealised currency gain/loss on long-term debt. The net result is NOK 1,140 million (NOK -1,285 million). The Group’s net interest bearing debt is NOK 15,557 million (NOK 21.337 million) and the book equity is NOK 7,809 million (NOK -1,018 million).
Key highlights:
- Record high Group EBITDA of NOK 1,349 million (NOK 851 million) and a margin of 38%
- The Group’s fleet achieved an average utilisation of 88% (86%) in the quarter.
- Margins, rates and vessel values have continued the positive trend seen in previous quarters.
- DOF Group ASA completed re-listing at Oslo Børs after completion of a public offering of 20.1 million new shares corresponding gross proceeds of NOK 564 million.
- In May the Group exercised its option to purchase the Skandi Hera (AHTS) and the Skandi Darwin (Subsea) and after balance date an option related to the Skandi Iceman (AHTS) was exercised. All at prices significantly below market values.
- The total current fleet includes 55 vessels (incl. vessels on management or hired in):
o 14 AHTSs, 11 PSVs and 30 Subsea vessels.
- Order intake of NOK 1.6 billion in the 2nd quarter.
- Firm backlog by end June of NOK 20.8 billion (contracts awarded after balance date represent a value of approximately NOK 1 billion)
Please see enclosed 2nd quarter Financial Report 2023.
>>> DOF Group ASA Q2 Financial Report 2023 (PDF)
Webcast is available Wednesday, 23rd of August at 08:45 on www.dof.com/webcast.
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 ASA will release the Q2 results on Wednesday 23rd of August 2023. The report will be available at www.dof.com and www.newsweb.no.
The presentation will be held on "Vestland på Børs", Scandic Flesland Airport Hotel, and as a webcast at 08:45 CET the same day on:
https://www.dof.com/webcast.
The presentation will be held by CEO Mons S. Aase and CFO Hilde Drønen.
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 has been awarded a significant SURF Contract in the region of USD 80-100 million for a tier 1 Contractor and Operator in West Africa, with 326 days firm utilisation, and 75 optional days, for the Skandi Acergy commencing in Q4 2023. In addition to the Vessel utilisation, DOF Subsea Atlantic shall offer an integrated solution of Project Management, Engineering, Design, Analysis and Survey attached to the Skandi Acergy scope. The scope includes, pre-commissioning, SSIV umbilical, spools, risers, flying leads, subsea structures and survey.
Mons S. Aase, CEO DOF Group ASA, comments: "The award continues to demonstrate DOF Subsea inhouse capability of offering turnkey solutions to our existing and new customers, building on our established capability offering in the SURF market. The award secures high utilisation for a key asset and reflects the higher margin environment we experience in the market."
The project will be run from our offices in Bergen and Aberdeen.
For further information, please contact:
Mons S. Aase, CEO DOF Group ASA
Phone: +47 91 66 10 12
E-mail: Mons.Aase@dof.com
Austevoll, Norway, 3 August 2023: The DOF Group ASA has today exercised its option to secure the long-term ownership of the vessel Skandi Iceman. The option price of the vessel is lower than the current market value.
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
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, NEW ZEALAND, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURES.
Austevoll, Norway, 6 July 2023: Reference is made to the stock exchange announcement made by DOF Group ASA ("DOF" or the "Company", ticker symbol "DOFG") on 6 July 2023 whereby the Company announced that the increase in the Company's share capital in connection with exercise of greenshoe option had been registered.
DNB Markets, a part of DNB Bank ASA, has today redelivered a total of 1,830,595 ordinary shares to Moco Holding AS, being a close associate of primary insider Mons Svendal Aase (chief executive officer), Energy Investors AS, being a close associate of primary insider Svein Harald Øygard (chairman of the board of directors), Harald Thorstein being a primary insider, Djupedalen AS, being a close associate of primary insider Hilde Drønen (chief financial officer), and ML Kapital AS, being a close associate of primary insider Martin Lundberg (EVP responsible for Finance and Investor Relations), borrowed for the purposes of facilitating delivery in respect of the over-allotments made in connection with the Company's initial public offering of shares.
The forms of notification and public disclosure for such redelivery of borrowed shares are attached.
>>> Download: DOF Group ASA Notification Transactions Primary Insiders Close Associates 06-jul-2023.pdf
This information is subject to the disclosure requirements in article 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the Norwegian Securities Act.
Advisors
ABG Sundal Collier ASA, Carnegie AS, DNB Markets, a part of DNB Bank ASA, and
Pareto Securities AS are acting as Joint Global Coordinators and Joint
Bookrunners in the IPO (the "Managers").
Lazard Ltd is acting as financial adviser to the Company (the "Financial Advisor").
Advokatfirmaet Thommessen AS is acting as legal counsel to the Company.
Advokatfirmaet Wiersholm AS is acting as legal counsel to the Managers.
For further information, please contact:
Mons Aase, CEO DOF Group ASA
Phone: +47 91 66 10 12
E-mail: Mons.Aase@dof.com
Svein Harald Øygard, Chairperson DOF Group ASA
Phone: +47 90 02 40 09
E-mail: sveinharaldoygard@gmail.com