DOF ASA

Business and Financial Review • May 22, 2019

Contract awards in Brazil

The DOF Group has been awarded several contracts for its fleet in Brazil commencing during the next months.

Norskan Offshore has been awarded a contract from Total in Brazil for the AHTS Skandi Rio. The vessel will perform anchor handling and supply activities supporting Totals growing operations in Brazil. The contract will commence shortly and has a maturity of 13-months firm and 2 x 6 months option.

DOF Subsea Brasil has been awarded a contract from Sapura Energy do Brasil in Northeast of Brazil for final Client CELSE (Centrais Elétricas de Sergipe S.A.). Skandi Seven will be utilised for this project and will perform a Riser and Umbilical installation for a Floating Storage and Regasification Unit (FSRU) for natural gas supply to Celse's power plant. The project is 20 days firm and 4 x 5 days options commencing last week of May.

The PLSV Skandi Niterói has been committed with TechnipFMC for the Peregrino Phase II SURF Project of Equinor in Brazil. She will start operations in the next few months on this project announced by TechnipFMC on September 28th, 2017. The Skandi Niterói, a Brazilian flagged flexible lay and construction vessel was built in Brazil and is owned by a Joint-Venture formed by DOF (50%) and TechnipFMC (50%).

The CEO Mons Aase states that he is very pleased with this contract awards, which confirms 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 3,500 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, Egypt, Angola, and Australia.

DOF ASA is listed on the Oslo Exchange since 1997.