DOF ASA

M&A Activity • May 25, 2021

Multiple contract awards in Brazil

Multiple contract awards in Brazil

DOF Subsea is pleased to announce the awards of multiple Vessel and ROV

contracts to support the Ocean Bottom Node Seismic campaigns by Shearwater

GeoServices Holding AS on Petrobras's Jubarte, Tupi and Iracema fields offshore

Brazil.

The vessel Skandi Neptune has been allocated for the project and is now getting

ready for transit to Rio de Janeiro for commencement of the Jubarte survey in

Campos Basis over a 3-months period.

The Tupi and Iracema surveys, should start in Q3 2021 in the Santos Basis and

are expected to last approximately nine months.

The award by Shearwater validate again DOF Subsea' capability to adapt and

expand into new growing markets such as the 3D ocean Bottom Node Survey.

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 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.