DOF Subsea Releases 2Q Financial Report (Norway)

DOF Subsea Releases 2Q Financial Report (Norway)

DOF Subsea AS, a leading provider of subsea services to the Oil and Gas industry, has released 2nd quarter financial report.

During the 2nd quarter several contracts were ob¬tained on the DOF Subsea Vessels. The Asia Pacific region entered into several contracts where Skandi Singapore, Skandi Hercules, Skandi Hawk and Geobay will be utilized. The Atlantic region entered into a contract with Conoco Phillips on Skandi Skolten. In Brazil Chevron extended the contract on Skandi Salvador for one more year. Subsea Seven extended the TC charter on Skandi Skansen and Skandi Seven and Fugro extended the TC charter on Skandi Carla.

The total operating income for the first half of 2012 was NOK 2.809 million including sales gain of NOK 202 million (vs. 1.928 million first half of 2011).

OPERATIONAL EVENTS

During the 2nd quarter the operation of the vessels have been according to schedule with only minor technical problems affecting the utilization. Geoholm was moved from West Africa to the North Sea and prior to entering into contract with Technip the ves¬sel was dry-docked.

In May the new building contract STX 771 acquired in December 2011 was sold and delivered to the new owners the Commonwealth of Australia (COA). The sale price was slightly below USD 130 million.

The total utilization of the fleet, both TC and project vessels, have been 93 % in April, 96% in May and 97 % in June.

In the 2nd quarter the activity in the Asia, Atlantic and the Brazil region was high. The activity within the Survey and Positioning segment was high during the 2nd quarter.

With the current oil price and the expected subsea invest¬ments in the years to come, the Board of Director’s expect an improving subsea market for the next 12 months.

Subsea World News Staff, August 24, 2012; Image: DOF Subsea

Share this article

Follow Subsea World News

Events>

<< Jul 2015 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Deepwater Intervention Forum

The conference named as Deepwater Intervention Forum will cover areas like designing to reduce training time, developing competency in well…

read more >

Marine Warranty Surveying

Marine warranty surveyors ensure that best industry practice and correct procedures are followed in the planning and execution of critical…

read more >

4 week Introduction to ROV Systems

The course has been formulated to provide a basic understanding of how to safely perform operations and maintenance on an ROV system…

read more >

1st EUROPE OIL GAS TRAINING SIMULATION FORUM

The event – unique in its kind around the world – will be an excellent platform for networking, benchmarking, exchanging business ideas…

read more >