DOF Subsea Nets New Contracts Worth USD 80 Mln

DOF Subsea AS, a subsidiary of DOF ASA, has been awarded several contracts, with a total value of approx. NOK 475 million ($80 mil.).

In the Asia Pacific region, DOF Subsea has been awarded several contracts including IMR services and subsea installation work. The contract awards will secure utilization for the vessels Skandi Singapore, Skandi Hercules and Skandi Hawk.

In the Atlantic region, Maersk Oil UK awarded DOF Subsea a contract to undertake replacement of the Dumbarton Drill Cluster Centre (DCC) flexible production riser at the Global Producer 3 FPSO located in the UK sector North Sea. The work will secure utilization for the chartered in vessel Normand Reach.

Further, Statoil awarded DOF subsea a call-off under an existing survey frame agreement for MBE and AUV survey services in the North Sea. Teekay awarded DOF Subsea with a contract for turret mooring and riser installation on the Gina Krogh FSO. Onshore engineering will commence in the second half of 2014, with offshore marine operations to be executed in 2016.

In the North America region, DOF Subsea has successfully completed a long-term pipeline survey project support with the Skandi Inspector, and the vessel will now mobilize for another client for a 30 days commitment prior transiting to Canada for an approx. 80 days commitment.

CEO, Mons S. Aase stated: “I am very pleased with the contract awards, securing utilization of our onshore engineering and project management teams as well our vessels. In addition, in the Atlantic region we have achieved repeat business with important clients and have established new client relationships.”

Press Release, May 15, 2014

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