DOF Group - M&A Activity 2024 | FinancialReports.eu

Prime Energy Extends MPSV Contract to the end of 2027

DOF Group is pleased to announce that Prime Energy Resources Development B.V.

(Prime Energy) has extended the contract for provision of the MPSV Skandi Hawk

to the end of 2027.

DOF has been providing MPSV and subsea services to Prime Energy (formerly Shell

Philippines Exploration B.V) in support of the Malampaya gas field operations

offshore Philippines since April 2015 and subsea support and IRM services for 13

years prior to that. An agreement has now been reached to extend the existing

contract including Project Management and Engineering services, Subsea

Inspection, Repair and Maintenance Services and the Multipurpose Platform Supply

Vessel (MPSV) Skandi Hawk from February 2024 until 31 December 2027 in support

of the continued operation and growth of the Malampaya field operations.

Mons Aase, CEO DOF Group ASA, said: "This is a substantial contract extension

with an estimated value of over USD 60M. It builds on the successful partnership

between our team in APAC with Prime Energy and the Malampaya field since

production commenced and we look forward to continuing to support Prime Energy

in the years to come."

For further information, please contact:

Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA

Phone: + +47 916 21 057

About DOF Group ASA

With a multi-national workforce of about 4,000 personnel, DOF Group 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 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 centres and business units are located in Norway, the UK, the USA,

Singapore, Brazil, Argentina, Canada, Angola, and Australia.

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