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.
Historical OSE Notices
Contract awards
New contract award in Brazil
December 9, 2020
Perestroika Industri AS ("Perestroika Industri") hereby gives notice that due to
a sale of 945,889 shares in DOF ASA ("DOF"), Perestroika Industri's shareholding
in DOF has, as of 26 November 2020, fallen below the 5% threshold.
Perestroika Industri currently owns 15,431,330 shares in DOF, representing 4.99%
of the total share capital, calculated based on a total number of shares
outstanding of 308,962,779.
This information is subject to the disclosure requirements set out in section
4-3 of the Norwegian Securities Trading Act.
Historical OSE Notices
DOF ASA - Disclosure of Shareholding
November 26, 2020
Beach Energy has awarded DOF Subsea Australia the Otway Offshore Project Phase
4
contract which consists of subsea installation works in a tie-back program.
The award includes Project Management, Engineering, Fabrication,
Transportation
and Installation Services and is expected to be completed in Q3 2021. The
project will be executed using DOF Subsea's regional Construction Support
Vessels (Skandi Hercules, Skandi Singapore) which are ideally suited to these
campaigns.
Mons Aase, CEO DOF Subsea AS, said, "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 3,150 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.
Historical OSE Notices
Contract awards
DOF Subsea Australia Contracted by Beach Energy
November 24, 2020
Perestroika Industri AS [entity tbc]("Perestroika Industri") hereby gives notice
that due to a sale of 6,680,521 shares in DOF ASA ("DOF"), Perestroika
Industri's shareholding in DOF has, as of 23 November 2020, fallen below the 10%
threshold.
Perestroika Industri currently owns 27,931,330 shares in DOF, representing 9.04%
of the total share capital, calculated based on a total number of shares
outstanding of 308,962,779.
This information is subject to the disclosure requirements set out in section
4-3 of the Norwegian Securities Trading Act.
Historical OSE Notices
DOF ASA - Disclosure of Shareholding
November 23, 2020
DOF Subsea AS is pleased to announce the appointment of Martin Lundberg as
Acting Chief Financial Officer (CFO) with responsibility for the corporate
finance functions in the DOF Subsea Group. The appointment is effective from
January 1[st] 2021.
Martin joined DOF Subsea in 2010 and has for the past ten years been a key
resource in various positions within the corporate finance team in DOF Subsea.
Martin will be replacing our current CFO, Jan Nore, who will dedicate his full
capacity to the role as Head of Restructuring. Jan is heading the internal
project team established for the purpose of the ongoing restructuring process,
aiming at securing a long term financial solution for the DOF Subsea and DOF ASA
Groups. As Head of Restructuring, Jan reports to the appointed Steering
Committee, headed by the DOF Group Chairman, and will continue his engagement
until end May 2021.
"As CFO & Executive Vice President since 2009, Jan has contributed tremendously
in developing our financial organisation globally and significantly supported
DOF in becoming a world class integrated offshore company. He has built a strong
global team and I am grateful for his many contributions to our Subsea business.
We wish him continued success as Head of Restructuring and a prosperous next
chapter in this career once departing from DOF Subsea" says Mons S. Aase.
For further information, please contact:
Mons S. Aase, CEO, DOF Subsea - Tel: +47 91 66 10 12
With a multi-national workforce of about 3,500 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.
Historical OSE Notices
Management changes at DOF Subsea
November 13, 2020
The DOF Group is pleased to announce that PSV Skandi Aukra has been awarded a
long term contract by Chrysaor. The charter will commence in December 2020, in
direct continuation of its current contract, for a duration of 2 years firm,
plus 2 x 1 year options.
Skandi Aukra is a large modern PSV, which has been continuously supporting UKCS
Operators, including Chrysaor, for several years, and the DOF Group is delighted
to continue its partnership with a key UK client.
Contact:
CEO Mons S. Aase, Tel +47 91 66 10 12
CFO Hilde Drønen, 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.
Historical OSE Notices
Contract awards
New contract for DOF
November 12, 2020
The Group's revenue for 3[rd] quarter (management reporting) totals NOK 2 027
million (NOK 2 057 million) and the EBITDA totals NOK 879 million (NOK 803
million, adjusted for hedge accounting). The operating profit (EBIT) is NOK -46
million (NOK -503 million), of which depreciation and impairment totals NOK 925
million (NOK 1 262 million). Net profit is NOK -406 million (NOK -2 130
million).
The COVID-19 virus has had a major impact on the operations in the 3[rd] quarter
and the markets have continued to be challenging, with pressure on earnings and
utilisation rates. Despite a challenging market situation, the Group has secured
new contracts with a total value of approx. NOK 3.7 billion during 3[rd] quarter
and so far in 4[th] quarter.
The restructuring of the Group's debt is ongoing and standstill agreements
(excluding the JVs) have been agreed until the 31[st] of January 2021 with the
secured lenders and until the 15[th] of December 2020 with the bondholders. The
discussions with the Group's creditors are ongoing and the Group has presented a
debt restructuring proposal to the secured lenders and bondholders. As part of
the debt restructuring of DOF Deepwater, the shares have been sold to Akastor
ASA.
The average utilisation of the Group's fleet during the 3[rd] quarter was 67% ;
81% for the subsea fleet, 48% for the AHTS fleet and 64% for the PSV fleet.
General market & operational comments in Q3:
·
· Good performance from subsea regions
· Contract awards in the AHTS and Subsea segments
· Weak North Sea spot market with several PSVs in lay-up
· 13 vessels in lay-up by end of the quarter
· The Group's current backlog is NOK 17.4 million
Please see enclosed 3[rd] quarter Financial Report 2020.
Webcast is available Thursday, 12 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 3,150 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.
Historical OSE Notices
Financial Report 3[rd] quarter for DOF ASA
November 12, 2020
DOF ASA will release the Q3 results 2020 on Thursday 12 November 2020.
The presentation will be held as a webcast available on www.dof.com/webcast at
08:30 CET the same day.
The presentation will be held by CEO Mons S. Aase and CFO Hilde Drønen.
Immediately following the webcast presentation there will be an opportunity to
ask the CEO and the CFO questions by conference call. A link to join the
conference call will be made available on the DOF webcast webpage shortly before
the start of the conference call.
Contact:
CEO Mons S. Aase, Tel +47 91 66 10 12
CFO Hilde Drønen, 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.
Historical OSE Notices
Invitation to presentation of Q3 2020 results
November 6, 2020
Perestroika Industri AS [entity tbc]("Perestroika Industri") hereby gives notice
that due to a sale of 1,939,760 shares in DOF ASA ("DOF"), Perestroika
Industri's shareholding in DOF has, as of 4 November 2020, fallen below the 15%
threshold.
Perestroika Industri currently owns 44,664,790 shares in DOF, representing
14.46% of the total share capital, calculated based on a total number of shares
outstanding of 308,962,779.
This information is subject to the disclosure requirements set out in section
4-3 of the Norwegian Securities Trading Act.
Historical OSE Notices
DOF ASA - Disclosure of Shareholding
November 4, 2020
