The Board of Directors of DOF Group ASA ("DOF") has approved the annual accounts for 2024...
The Board of Directors of DOF Group ASA ("DOF") has approved the annual accounts for 2024.
The Integrated Annual Report for 2024 in PDF and European Single Electronic Format (ESEF) are attached to this release and available at DOF's website.
For further information, please contact:
Eirik Vardøy, Investor Relations DOF Group ASA
Phone: +47 94 83 64 64
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DOF has been awarded a contract by Altera Infrastructure to install one FPSO (Floating Production, Storage and Offloading unit) and one FSO (Floating Storage unit) for the phase 2 development of the Baleine field in Cote d'Ivoire, West Africa, operated by Eni with Petroci Holding as partner.
The project includes the complete installation of seabed mooring systems, flowline between FSO and FPSO, and associated equipment.
DOF`s contract scope includes project management, engineering, transportation, installation and hook-up of floating units in the field. DOF shall mobilize Skandi Skansen to the project, totaling more than 130 vessel days.
"This award recognizes DOF`s solid performance within installation of floating units. We look forward to executing the project safely and successfully", says Mons S. Aase, CEO in DOF Group.
Project Management and engineering will commence immediately from DOF`s offices in Bergen, Norway and Aberdeen, Scotland. Offshore operations are planned to take part from Q3, 2024.
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
DOF is very pleased to announce a Substantial Contract with an international oil company for the PSV Skandi Kvitsøy. The vessel will work in Australian waters and further strengthen the DOF Group’s presence in Australia. Commencement will be Q1 2024 with 2-year firm and 2 years options.
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
DOF Group defines a Substantial Contract as a contract with value between NOK 250 million to NOK 500 million.
DOF is very pleased to announce a Large Contract with Equinor Energy for the AHTS Skandi Iceman. The award means that the DOF Group will have two anchor handlers supporting Equinor’s Norwegian operations until 2027 at the earliest with Skandi Vega having been on charter to Equinor since delivery 2010. This contract will build on the long-term relationship between the DOF Group and Equinor for AHTS services. The contract also includes ROV services provided by the DOF Group. Commencement will be Q2 2024 with 3-year firm and 3x1 year options.
Mons Aase, CEO DOF Group ASA, said, “This award demonstrates the performance of our anchor handling vessels and our crews. We are very happy to see Equinor selecting DOF for another long term AHTS contract”
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
DOF Group defines a Large Contract as a contract with value between NOK 500 million to NOK 1 billion
Find below links to DOF company ARP reporting for year 2022.
Click the company name to visit the equalitycheck.com hosted report:
> DOF Subsea AS
> DOF Subsea Norway AS
> DOF Subsea Norway Offshore AS
> DOF Management AS
> DOF Sjø AS
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
E-mail: martin.lundberg@dof.com
DOF is pleased to announce multiple subsea service contracts in the Asia Pacific region utilising CSV Skandi Hercules for offshore execution in 2024.
Three subsea service contracts have been secured from Australian-based operators. The contracts will utilise Skandi Hercules, adding approximately 6 months of utilisation in 2024 and into Q1 2025. The contracted scope includes the team's inhouse capability to deliver project management and engineering, logistics support and execution of various remediation activities, pre-commissioning and commissioning support, and field decommissioning operations.
Mons Aase, DOF Group ASA CEO, said, "These awards secure substantial backlog for the APAC region with an estimated combined value of over USD 36 million."
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
In an innovative move, DOF has recently announced the successful execution of its first-ever official ROV offshore mission piloted from onshore. The success of remote ROV operations is a significant milestone for DOF, and Dag-Raymond Rasch, DOF's EVP Atlantic, says:
“I’m enthusiastic about the successful implementation of ROV remote operations and the positive impact this will have on our company’s future. Going forward, we will mature the technology further and commercialise it to offer bespoke remote solutions to our clients”.
The rapid evolution of technology has played a pivotal role in the success of remote operations. Video conferencing, collaborative tools, and cloud-based solutions have become indispensable assets for businesses.
All this in conjunction with DOF’s in house operational competence, ROV integration competence and asset management have made a strong platform for developing DOF’s onshore control center in Bergen.
Remote operations are here to stay, and the future of work is set to become more remote, bringing about positive changes in how DOF plans and executes projects. Remote work will also enable DOF to access work sites and undertake a wider range of projects.
DOF has secured an EPRD project for a North Sea operator, including the project management, engineering, logistics and execution of an FPSO cessation project. DOF shall disconnect, transport and pre-moor the floating unit, and retrieve and recycle the mooring system.
Project management and engineering starts immediately, while offshore execution is planned in Q3 2024 utilising in total four vessels, including Skandi Hera and Skandi Iceman.
In the APAC region, DOF has been awarded a contract to provide field decommissioning support in association with a depleted field off the Australian coast.
The award includes project management, engineering, procurement, and offshore services and is expected to be completed over a five-to-seven-week period commencing in December 2023. The project will utilise the CSV Skandi Hercules which, with two permanently installed WROV systems and a 250Te AHC crane, is ideally suited to these operations.
The combined revenue from the two projects is estimated to approximately USD 30 million.
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
DOF Group is pleased to announce the chartering of the Connor Bordelon to support the North America operation in the US Gulf of Mexico for 1-year term with a 1-year option.
The Time charter will commence in March 2024 when DOF will mobilize 2 Heavy-work class ROVs and survey as part of the integrated spread to ensure client coverage between the end of the charter of the Ross Candies in February 2024 and the start of charter of Cade Candies in 2025. The Connor Bordelon is an USA 78m DP II vessel with a 60ton AHC Crane capable to reach 3,000m water depth, 60 accommodation, Helideck and 572m2 open deck.
"The combination of the vessel capability and terms, the Jones Act Compliance and its low fuel consumption, makes of the Connor Bordelon one of the most cost cost-effective IMR and light Construction vessel in the GoM for the next 2-years offered in combination with the capabilities of the Cade Candies" Marco Sclocchi, EVP North America explains.
Mons Aase, DOF’s Group CEO added "We believe that DOF’s sustainable presence in the GoM is a key part of the Group global strategy for integrated offshore services and we welcome Bordelon Marine as key partner together with Otto Candies for our Jones Act Complaint operation".
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