DOF Group ASA ("DOF") is pleased to announce a Substantial contract award for subsea mooring installation services in the APAC Region...
DOF Group ASA ("DOF") is pleased to announce a Substantial contract award for subsea mooring installation services in the APAC Region. The contract will utilise Skandi Hercules with related moorings and installation subsea services. The scope of work includes DOF's in-house project management and engineering, procurement and logistics support services.
Offshore execution in West Australian waters is scheduled in Q3 2025 with the vessel engaged on the project for approximately 2 months.
Mons Aase, CEO DOF Group ASA, said: "The award secures substantial backlog for the APAC region in the second half of 2025, and we look forward to delivering a safe and successful project."
DOF defines a Substantial contract as a contract with value between USD 25 million and 50 million.
For further information, please contact:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
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DOF is pleased to announce the opening of a new office, together with a local partner, in Busan, Korea, to meet the rising demand of offshore energy projects in the region.
With a well-established reputation for innovation and forward-thinking policies in clean energy, the Korean market represents a significant growth opportunity for DOF as the oil and energy sector transitions over to renewables.
According to market analysis, Korea is set to develop 4GW of offshore floating wind by 2030 with a further 5GW by 2035. This means that Korea is expected to provide the largest offshore floating wind opportunities in the world. To meet this rising demand, DOF is excited to expand into this market and bring with them their expertise and capabilities from the offshore energy industry.
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With over 40 years of offshore experience, DOF is a significant supplier to the global oil and energy industry. Over the past few years, DOF has played a significant role in the development of floating offshore wind projects and has valuable experience in the deployment of floating wind turbines. Especially, this expertise was demonstrated during the installation of wind turbines at Hywind Tampen, the world’s largest floating wind farm to date.
Jan Kristian Haukeland, DOF’s EVP Renewables,said:
“We are excited to establish our presence in Korea. The expansion is a significant milestone for DOF as we continue to grow and contribute to the global energy transition. With our new office in Busan, we will be able to better serve our customers in the region and look forward to collaborating with local partners to capture opportunities in the renewables market.”
Financial calendar for DOF Group ASA
FINANCIAL YEAR 2023
10.11.2023 - Quarterly Report - Q3
23.02.2024 - Quarterly Report - Q4
FINANCIAL YEAR 2024
21.08.2024 - Half-yearly Report
30.04.2024 - Annual Report
23.05.2024 - Annual General Meeting
15.05.2024 - Quarterly Report - Q1
07.11.2024 - Quarterly Report - Q3
21.02.2025 - Quarterly Report - Q4
This information is published pursuant to the requirements set out in the Continuing obligations.
DOF is pleased to announce entering a charter for the Stril Explorer owned by Simon Møkster Shipping. The charter is a bareboat with a firm duration of 3 years plus 4 annual options.
The vessel will be utilized on the recently awarded PIDF project. DOF is very pleased to secure this vessel and increase the IMR capacity in our project segment.
For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: + +47 916 21 057
E-mail: martin.lundberg@dof.com
Please see attachment.
Downloads: Letter to Regulator- DOF Group ASA TD 2023.10.03 (PDF)
Please see attachment.
Downloads: Letter to Regulator- DOF Group ASA TD 2023.10.03 (PDF)
See attachment.
Downloads: DOF Group ASA - New Ordinary Shares admitted to trading (PDF)
See attachment.
Downloads: DOF Group ASA - Conversion of B-shares to New Ordinary Shares and new ISIN (PDF)
Reference is made to our press release sent 29th September regarding the agreement to acquire Skandi Barra, Skandi Caledonia and Skandi Captain from the lenders for a total price of NOK 270 million.
DOF Rederi AS have now agreed to sell Skandi Barra and Skandi Caledonia to a company controlled by Atlantica Shipping AS. The total sales price for the two vessels is NOK 275 million.
Skandi Barra is planned to be delivered to the new owners during October 2023 and Skandi Caledonia is planned to be delivered in November 2023.
DOF will continue as technical and commercial manager for the vessels.
The agreement to sell the two vessels are conditional certain subjects, including approval from the Charterers of the two vessels.
Mons S. Aase, CEO DOF Group AS, says: “The sale of the two older PSVs are in line with our long-term strategy to focus on the integrated subsea services and the short to medium focus on optimizing the combination of earnings and vessel values from our PSV fleet. The vessels will continue under our management and our clients will receive the same high-quality services”.
For further information, please contact:
Martin Lundberg, SVP Finance and Investor relations DOF Group ASA
Phone: +47 916 21 057
E-mail: martin.lundberg@dof.com
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, NEW ZEALAND, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURES.
Austevoll, Norway, 29 September 2023: Reference is made to the obligation included in DOF Group ASA's (the "Company") articles of associations, regarding the conversion of all the 123,276,652 existing B-shares to ordinary shares ("New Ordinary Shares") in an exchange ratio of 1:1 (the "Conversion") at the later of (i) the following business day after 30 September 2023 and (ii) if required, the date that the prospectus required to list the relevant New Ordinary Shares on the Oslo Stock Exchange is published.
The Financial Supervisory Authority of Norway (Nw.: Finanstilsynet) has today, on 29 September 2023, approved a prospectus, comprising a securities note, a registration document supplement and a summary (jointly, the "Prospectus") for the listing of the New Ordinary Shares on the Oslo Stock Exchange, following the Conversion.
The Conversion is subject to approval by the Company's board of directors, and is expected to take place the first business day after 30 September 2023, i.e. 2 October 2023. Subject to approval by the board of directors, on the first day of trading in the New Ordinary Shares is expected to be on or about 3 October 2023.
The Company will notify the market through a stock exchange announcement immediately after the Conversion has been resolved by the board of directors. For the sake of good order, the Company would like to emphasize that trading in the New Ordinary Shares prior to the Conversion would constitute a breach of the Short Selling Regulation implemented into Norwegian law through Section 3-5 in the Norwegian Securities Trading Act.
The Prospectus will be, subject to regulatory restrictions in certain jurisdictions, available on the Company's website, www.dof.com.
>>> DOF Group ASA - Summary 29-Sep-2023.pdf
>>> DOF Group ASA - Registration Document 29-Sep-2023.pdf
>>> DOF Group ASA - Registration Document Supplement 29-Sep-2023.pdf
>>> DOF Group ASA - Securities Note 29-Sep-2023.pdf
For further information, please contact:
Martin Lundberg, SVP Finance and Investor Relations DOF Group ASA
Phone: + +47 916 21 057
E-mail: martin.lundberg@dof.com
Important notice:
This announcement is not being made in or into the United States of America, Canada, Australia, Japan, Hong Kong or in any other jurisdiction where it would be prohibited by applicable law. This distribution does not constitute or form part of an offer or solicitation of an offer to purchase or subscribe for securities in the United States. The shares referred to herein have not been and will not be registered under the United States Securities Act of 1933, and may not be offered or sold in the United States or to U.S. persons (other that distributors) unless the securities are registered under the Act, or an exemption from the registration requirements of the Act is available.
The DOF Group is pleased to announce a new contract award for its fleet in Brazil for Petróleo Brasileiro S.A. ("Petrobras"). The AHTS18000 Skandi Rio will support Petrobras' exploration and production activities on the Brazilian continental shelf. The vessel is owned and operated by Norskan Offshore Ltda. while DOF Subsea Brasil Servicios Ltda. will be responsible for the ROV operations. Both companies are 100% owned subsidiaries of DOF ASA.
The contract duration is for 3+1-year with expected commencement in December/January. Skandi Rio is a Brazilian built and flagged AHTS vessel equipped with Work Class ROV's for operations down to 3.000m water depth.
Mons Aase, CEO in DOF Group, states: I am very pleased with the contract award, which confirm 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 3,150 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.