DOF ASA

Regulatory Filings • Sep 30, 2022

DOF Subsea contract awards in Atlantic region

DOF Subsea contract awards in Atlantic region

DOF Subsea is pleased to announce multiple new project awards and a contract

extension in the Atlantic region.

The projects combined, totals more than 500 vessel days excluding optional work,

and a combined revenue of more than 80 million USD.

Skandi Acergy, Skandi Constructor, Skandi Seven, Skandi Skansen, Skandi Hera and

selected third-party vessels shall be utilized in the offshore execution

phases.

One of the awards is a SURF contract from a major oil & gas operator. The

project includes design & fabrication of spools and installation of umbilicals,

flying leads, spools and various subsea equipment. Main installation phase is

scheduled for quarter 2, 2023 in the Mediterranean and shall be executed on

DOF`s construction vessel Skandi Acergy. Project management, engineering and

procurement are managed by DOF`s project teams in Aberdeen and Houston.

Another award is an FPSO mooring rectification project in West Africa. The scope

includes project management, engineering and fabrication, utilizing Skandi

Skansen as the main installation vessel.

DOF Subsea has been awarded an early phase study from a major oil & gas operator

for the purpose of detailing cessation plans for one of its fields in the North

Sea, based on utilizing the DOF fleet.

Mons Aase, CEO DOF Subsea AS, said, "I am pleased with the series of awards in

the Atlantic region, securing projects across North Sea, Mediterranean and

Africa. Together with previous announced contracts, our latest SURF award

confirms full utilization of Skandi Acergy within the SURF segment across the

North Sea, Mediterranean and Australia from fall 2022 to summer 2023. I note our

clients are continuing to trust DOF`s ability to deliver bespoke subsea

services, safe and efficiently."

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 3,800 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 40 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.