DOF ASA

M&A Activity • Oct 12, 2020

DOF Subsea has been awarded a MPSV contract on the Mero Field in Brazil

DOF Subsea has been awarded a MPSV contract on the Mero Field in Brazil

The DOF Group is pleased to announce another contract award in Brazil for Libra

Consortium, supporting Petrobras' operation activities on the Brazilian

continental shelf.

Petrobras has awarded DOF Subsea a 3 years MPSV vessel contract for Mero field.

Skandi Salvador is the vessel that will operate 2 x WROV for 24 hours providing

inspection, maintenance and subsea commissioning services in water depths of up

to 2,500m, including shallow dive services with Oceânica.

The contract reinforces DOF's strategic positioning in the Brazilian market.

Since June 2020, the DOF Group has been awarded contracts in Brazil worth USD

250 million.

DOF Subsea Brazil will be responsible for the ROV operations while Norskan will

be responsible for marine operations. Both companies are 100% owned subsidiaries

of DOF ASA.

Mons S. Aase, CEO in DOF Group said, "I am very pleased over being awarded this

long-term contract with Petrobras. The award further strengthens DOF's position

in the IMR market in Brazil. DOF Subsea is dedicated to deliver efficient

services without compromise to safety."

Libra Consortium is led by Petrobras - with a 40% interest - in partnership with

Shell Brasil (20%); Total (20%), CNODC (10%) and CNOOC Limited (10%). The

Consortium also has the participation of the state-owned company Pré-Sal

Petróleo SA (PPSA) as manager of the Production Sharing Agreement.

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 3,150 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, Canada, Angola, and Australia.

DOF ASA is listed on the Oslo Exchange since 1997.