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DOF Group ASA - Subsea mooring installation contract award 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...

DOF Group ASA - Subsea mooring installation contract award in the APAC region

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DOF Subsea

DOF Subsea signs today a contract with Kværner to collaborate and deliver Marine Operations for Equinor`s Hywind Tampen Project. The contract shall be executed in a 50/50 partnership (joint venture) with Kværner. “Hywind Tampen will be the world’s largest floating offshore wind farm and is vital for industrialising solutions and reducing costs for future offshore wind power projects. The deep-water floating renewables market is on the verge of commercialization C and Snorre A and B. The combined effect from the 11 turbines will be 88 megawatts and will replace about 35 percent of the five platforms’ energy demand. Today the energy required to run these platforms is supplied by gas turbines. The project will reduce Norwegian CO2 emissions with more than 200 000 tonnes per year which is equivalent to the emissions from 100 000 cars. In addition analysis confirm that the hulls made of concrete have a favourable CO2 footprint compared to several other solutions. Hywind Tampen will also be leveraged to further reduce the CO2 footprint in future projects. DOF Subsea and Kværner has entered into a 50/50 joint venture to deliver Hywind Tampen marine operations. The scope includes full project management engineering assembly site management mooring system installation units tow-to-field and installation of the floating wind turbine units at the Tampen area. Several state-of-the-art construction vessels will be deployed from DOF Subsea during project phases including the 2011 built Skandi Skansen. The vessels together with a competent onshore and offshore organisation shall ensure a safe and efficient delivery of Hywind Tampen marine operations project. For further information please contact: Mons S. Aase CEO DOF Subsea – Tel: +47 91 66 10 12 Marianne Møgster SVP Finance DOF Subsea – Tel: +47 99 30 69 16 About DOF Subsea: The DOF Subsea Group is a specialist subsea service business that provides subsea construction subsea engineering inspection repair and maintenance and survey services which involve complex and challenging engineering in an international environment. DOF Subsea owns a large fleet of modern subsea construction intervention and survey vessels that enable it to offer differentiated positions with its clients and work in long term relationships which enhance service delivery and reduce the overall risk. The company’s core business is project management engineering vessel operations survey remote intervention and diving operations primarily for the Oil and Gas Marine Telecommunications and Renewables markets. www.dofsubsea.com

DOF Subsea

DOF Subsea contract for Hywind Tampen is a strategic breakthrough

October 31, 2019

DOF Subsea

DOF Subsea secures contracts in Africa

October 24, 2019

DOF Subsea

DOF Subsea AS: Notice from bondholders' meeting and summons to second bondholders' meeting

October 22, 2019

DOF Subsea

DOF Subsea AS: REFINANCING UPDATE

October 22, 2019

Reference is made to previous stock exchange announcements regarding the subordinated convertible bond loan issued by DOF ASA ("DOF" or the "Company") on 5 August 2016 (the "Subordinated Convertible Bond"). Bondholders in the Subordinated Convertible Bond have in accordance with the terms and conditions of the Subordinated Convertible Bond requested to convert bonds with an aggregate nominal value of NOK 12,000,000 to new shares in the Company. As a result, the share capital of the Company has today, 29 October 2020, been increased with NOK 1,200,000 by issuance of 1,200,000 new shares, each with a nominal value of NOK 1, at the conversion price of NOK 10.00 per share. Following the share capital increase, the Company's share capital is NOK 308,962,779, divided into 308,962,779 shares, each with a nominal value of NOK 1. The new shares will be registered on the respective bondholders' VPS accounts and be tradable on the Oslo Stock Exchange from and including 30 October 2020. Following the conversion, the new outstanding amount under the Subordinated Convertible Bond is NOK 74,933,885. For further information, please contact: CEO Mons Aase, tel. +47 91 66 10 12 CFO Hilde Drønen, 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.

Historical OSE Notices

DOF ASA - New share capital

October 29, 2020

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.

Historical OSE Notices

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

October 12, 2020

Historical OSE Notices

Restructuring of DOF Deepwater AS completed

October 12, 2020

Historical OSE Notices

Skandi Vega - extension of contract with Equinor Energy AS

October 1, 2020

DOF ASA and DOF Subsea AS are pleased to announce that each of the companies have agreed to extend the principal and interest suspension agreements with, or received extension of similar concessions from, secured lenders representing in total 83% of the secured debt of DOF ASA and its subsidiaries (other than the DOF Subsea AS group) and in total 88% of the secured debt of companies within the DOF Subsea AS group. Pursuant to said agreements, payments of principal and interest to the secured lenders, except for servicing of the NOK 100 million credit facility provided to DOF Subsea AS by certain of its lenders on 27 March 2020 to cover its immediate liquidity needs (the "MNOK 100 Credit Facility"), are suspended until 31 January 2021 on certain customary terms and conditions. Such terms and conditions include customary restrictions on the DOF group (the "Group") in the relevant period and customary termination rights for the secured lenders. The current stand-still from BNDES to Norskan Offshore Ltda. will expire on 31 December 2020, and the continuation of the extended stand-still with the other secured lenders to 31 January 2021 will then either require a continued stand -still from BNDES from 31 December 2020 to 31 January 2021 or acceptance to servicing of the debt to BNDES by the other secured lenders. The MNOK 100 Credit Facility referred to above, which originally expired on 30 June 2020, has also been extended. The extensions of the stand-still periods are entered into in order to facilitate the continued constructive dialogue with the secured lenders and bondholders under the Group's bond loans regarding a long-term financial restructuring of the Group. The suspension agreements comprise all companies within the Group, except for DOF Subsea Brasil Servicos Ltda. As regards the secured lenders (other than the secured lenders of DOF Subsea Brasil Servicos Ltda.) who have not entered into the suspension agreements or provided a similar concession, DOF ASA and DOF Subsea AS will continue to impose an unilateral stand still on the payment of principal and interest to such secured lenders for as long as the suspension agreements remain in force. Such unilateral stand still is required to comply with the terms of the suspension agreements. 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 3,500 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, Canada, Angola, and Australia. DOF ASA is listed on the Oslo Exchange since 1997.

Historical OSE Notices

Our newsroom

DOF Group ASA - Subsea mooring installation contract award in the APAC region

DOF Group ASA - Subsea mooring installation contract award in the APAC region

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Notice from Nordic Trustee

DOF Subsea awarded contracts in New Zealand and Asia

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DOF Subsea AS: NOTICE FROM BONDHOLDERS' MEETING

DOF Subsea contract for Hywind Tampen is a strategic breakthrough

DOF Subsea secures contracts in Africa

DOF Subsea AS: Notice from bondholders' meeting and summons to second bondholders' meeting

DOF Subsea AS: REFINANCING UPDATE

DOF ASA - New share capital

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

Restructuring of DOF Deepwater AS completed

Skandi Vega - extension of contract with Equinor Energy AS

DOF ASA AND DOF SUBSEA AS: EXTENSION OF STANDSTILL AGREEMENTS WITH SECURED LENDERS

DOF SUBSEA AS: RESULT FROM BONDHOLDERS' MEETINGS

DOF SUBSEA AS: ADDENDUM TO BONDHOLDERS' SUMMONS

DOF ASA: COMPLETED DEMERGER OF MØGSTER MOHN OFFSHORE AS AND DISCLOSURE OF LARGE SHAREHOLDINGS

DOF Subsea Australia Contracted by Woodside Energy