DOF Group ASA (“DOF”) will today host a Capital Markets Day from 11:30 CEST...
DOF Group ASA (“DOF”) will today host a Capital Markets Day from 11:30 CEST. The presentation will be held by DOF’s CEO Mons Aase, CFO Martin Lundberg and other key executives across the company. The presentation material is attached to this release and will be available on DOF’s website.
A live webcast will be available on https://www.dof.com/webcast, and a recording of the presentation will be published on the same webpage after the event.
Contact information:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
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Reference is made to the summons to bondholders' meetings in DOFSUB07 (ISIN NO 001 0670144) and the proposal was consequently approved. Please see the attached minutes from the bondholders' meetings. For further information please contact: CEO Mons Aase tel. +47 91 66 10 12 CFO DOF Hilde Drønen tel. +47 91 66 10 09 CFO DOF Subsea Jan Nore tel. +47 48 09 46 99 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 This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Woodside has awarded DOF Subsea Australia a contract to provide Transportation & Installation (T&I) services in support of flowline installation operations in the Cossack Wanaea Lambert and Hermes (CWLH) field which with an in-built saturation diving system and 140Te AHC crane is ideally suited to these operations. Mons Aase CEO DOF Subsea AS said “We look forward to working with Woodside to deliver safe and efficient award.” 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. www.dofsubsea.com
DOF Subsea have been awarded two contracts in the Asia Pacific region “I am pleased that that we continue to build backlog for the region and that DOF Subsea is a trusted provider for integrated subsea operations across multiple disciplines. DOF Subsea is continuously working to develop efficient services without compromise to safety.” 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 Offshore Energy Marine Telecommunications and Renewables markets. www.dofsubsea.com
DOF Subsea has been awarded an integrated Field Support Vessel (FSV) contract with an international oil company in Angola. The project shall utilize Skandi Seven for a minimum of 303 firm vessel days plus 365 days of options. The Contract also includes the potential supply of additional vessels CEO DOF Subsea said “I am pleased that DOF Subsea is trusted with another contract in Angola. This project will secure utilization for our integrated FSV team and assets strengthening our position as a leading one-stop solutions provider for integrated subsea operations across multiple disciplines. DOF Subsea is continuously working to develop efficient services without compromise to safety.” 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 Offshore Energy Marine Telecommunications and Renewables markets. www.dofsubsea.com
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 an agreement for the restructuring of the Group will not be reached before the current deferral and standstill arrangements with the bondholders expire. 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 [15 December 2020] [and with a possibility to extend to 31 January 2021 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 corresponding request has been made to the company'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 Hilde Drønen tel. +47 91 66 10 09 CFO DOF Subsea Jan Nore tel. +47 48 09 46 99 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 This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Marianne Møgster was elected today as new director in DOF Subsea AS 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 Offshore Energy Marine Telecommunications and Renewables markets. www.dofsubsea.com
DOF Subsea has been awarded a turnkey contract performing marine operations in connection with a decommissioning project by Teekay Petrojarl Floating Production. The award covers project management Skandi Iceman Skandi Hera in addition to selected third party vessels to deliver the scope. The project has already commenced and is scheduled to be completed within Q4 2020. Mons S Aase CEO DOF Subsea said: “DOF Subsea is pleased to be trusted with this multidisciplinary decommissioning scope by a repeat key client. This project will utilize the strength in our offering to the fullest with our decommissioning team parred with capable offshore vessels. DOF Subsea is continuously working to develop efficient solutions and to deliver as promised without compromise to safety. 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 Offshore Energy Marine Telecommunications and Renewables markets. www.dofsubsea.com
DOF Subsea is proud to announce four new contracts with Petrobras. The contracts include work within our core service lines for Survey and Inspection. At least three vessels from the DOF fleet shall be mobilized to perform flexible pipeline DOF Subsea said “I am very pleased for these awards securing utilisation for our personnel and our assets and adding important back log to the Group. It further strengthens our leading position in Brazil within IMR and confirms our long relationship with Petrobras.” DOF Subsea is dedicated to deliver safe and efficient subsea solutions. 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 Offshore Energy Marine Telecommunications and Renewables markets. www.dofsubsea.com
The Group’s operating income for the 2nd quarter (management reporting) was NOK 1 247 million (NOK 1 257 million in Q2 2019) and the operating profit before depreciation and impairment (EBITDA) was NOK 528 million (NOK 445 million). The average utilisation of the Group's fleet during the 2nd quarter was 74%; 64% for the Subsea/IMR Project fleet and 93% for Long-term Chartering fleet. At the end of the 2nd quarter 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"