DOF ASA — M&A Activity 2019

Jul 2, 2019

DOF Group received several new contract awards

DOF Rederi AS - Long-term contracts for Multi Role Vessels (MRV)

DOF Rederi AS (DOF) has been awarded three long-term contracts for the MRV's;

"Skandi Hugen", "Skandi Nova" and "Skandi Marøy" by ConocoPhillips Skandinavia AS.

The contracts have a duration of 5 years, with further 3 x 3 yearly options. The contracts will commence in Q4 2019 and Q1 2020.

ConocoPhillips Skandinavia AS have declared the options for IMR and ROV services from DOF Subsea Norway AS in connection with the MRV vessel Skandi Hugen, with the same duration.

The commercial terms of the contracts are confidential between the parties.

In a statement Mons Aase said, "We are pleased to have these contracts signed and are prepared to continue our good relationship with ConocoPhillips."

For further information, please contact:

Mons S. Aase, CEO, DOF ASA Tel: +47 91 66 10 12

Hilde Drønen, CFO, DOF ASA,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.