DOF Group ASA ("DOF") is pleased to announce the award of multiple contracts for the Skandi Inventor in the Atlantic region, securing more than 100 days of firm work, with additional options available.
The Skandi Inventor, a state-of-the-art DP3 construction vessel equipped with a 400-ton Active Heave Compensated (AHC) crane and a large working deck, has recently undergone significant upgrades. The vessel is now fitted with two brand new Work Class ROVs (WROVs) and a modern survey suite, all of which will be fully operated by DOF.
Mons S. Aase, CEO of DOF Group, commented: “We are pleased to welcome the Skandi Inventor to the North Sea and to see immediate project intake across Q2, Q3 and Q4 2025. These awards reflect DOF’s strong position across both Oil & Gas and Renewable segments.”
Preparations are already underway, with DOF delivering a full scope of project management, engineering, logistics, and offshore execution as part of the awarded campaigns.
For further information, please contact:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
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The Board has in a board meeting, 6th of April 2022, approved the DOF Subsea AS Integrated Annual Report 2021, including the sustainability report and the financial accounts.
DOF Subsea USA is pleased to announce the award of multiple contracts for the Ross Candies.The vessel will be utilised well into Q3 2022, undertaking jumper installations, span remediation, pre-commissioning, decommissioning, pipelay support and IMR activities at multiple field locations in the Gulf of Mexico.
The current charterer with delivery during 2nd or 3rd quarter 2022. For further information please contact: Mons S. Aase CEO DOF Subsea. Tel: +47 91 66 10 12 Marianne Møgster SVP 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. www.dofsubsea.com
The current charterer, N-Sea Survey BV, of MV ”Geosea” (RSV, built in 2002) owned by DOF Subsea Rederi AS, has exercised its purchase option, with delivery during 2nd or 3rd quarter 2022.
Reference is made to previous announcements regarding the extension of standstill arrangements with the DOF group's secured lenders expiring 31 March 2022 and extension of standstill arrangements with bondholders in DOF Subsea AS' bond issues also expiring 31 March 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 please contact: Mons S. Aase CEO DOF Subsea. Tel: +47 91 66 10 12 Marianne Møgster SVP DOF Subsea. Tel: 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
Reference is made to previous announcements regarding the extension of standstill arrangements with the DOF group's secured lenders expiring 31 March 2022 and extension of standstill arrangements with bondholders in DOF Subsea AS' bond issues also expiring 31 March 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 30 April 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 30 April 2022 in accordance with the resolutions of the bondholders' meeting held 28 February 2022.
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.
DOF Subsea is pleased to announce multiple new contracts within Renewables and Oil & Gas in the North Sea. The projects engineering procurement and logistics – to be delivered by our integrated subsea expert teams across Bergen and Aberdeen. Several of the awards are EPRD (Engineering Preparation Removal and Disposal) decommissioning contracts and DOF Subsea is planning to deploy multiple vessels in-field during the execution. DOF Subsea has also received several new frame agreements. Within one frame agreement DOF Subsea will deliver continuous survey services for a Renewables project in Taiwan throughout 2022. DOF Subsea has also received a frame agreement with a major North Sea Operator unlocking access to DOF Subsea`s integrated services within IMR (Inspection Maintenance and Repair) construction SURF and decommissioning. For further information please contact: Mons S. Aase CEO DOF Subsea. Tel: +47 91 66 10 12 Marianne Møgster SVP DOF Subsea. Tel: 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 is pleased to announce multiple new contracts within Renewables and Oil & Gas in the North Sea.
The projects, to be delivered in 2022, total more than 185 vessel days excluding any optional work.
Skandi Acergy, Skandi Constructor, Skandi Hera and selected third-party vessels will be utilised in the offshore execution phases.
All awards include project management, engineering, procurement and logistics - to be delivered by our integrated subsea expert teams across Bergen and Aberdeen.
Several of the awards are EPRD (Engineering, Preparation, Removal and Disposal) decommissioning contracts, and DOF Subsea is planning to deploy multiple vessels in-field during the execution.
DOF Subsea has also received several new frame agreements. Within one frame agreement, DOF Subsea will deliver continuous survey services for a Renewables project in Taiwan throughout 2022. DOF Subsea has also received a frame agreement with a major North Sea Operator, unlocking access to DOF Subsea`s integrated services within IMR (Inspection, Maintenance and Repair), construction, SURF and decommissioning.
DOF Subsea Canada is pleased to announce the award of the first SURF project for the Skandi Constructor from VAALCO ENERGY. DOF Subsea will perform subsea construction and installation services to support the subsea reconfiguration associated with the replacement of the existing Floating Production DOF Subsea. Tel: +47 91 66 10 12 Marianne Møgster SVP Finance DOF Subsea. Tel: 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
The DOF Group is pleased to announce a new contract award for its fleet in Brazil for Petróleo Brasileiro S.A. ("Petrobras"). The AHTS18000 Skandi Rio will support Petrobras' exploration and production activities on the Brazilian continental shelf. The vessel is owned and operated by Norskan Offshore Ltda. while DOF Subsea Brasil Servicios Ltda. will be responsible for the ROV operations. Both companies are 100% owned subsidiaries of DOF ASA.
The contract duration is for 3+1-year with expected commencement in December/January. Skandi Rio is a Brazilian built and flagged AHTS vessel equipped with Work Class ROV's for operations down to 3.000m water depth.
Mons Aase, CEO in DOF Group, states: I am very pleased with the contract award, which confirm the DOF Group's strong position in the South America region.
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 3,150 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 over 35 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.