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 Subsea has been awarded multiple new contracts for execution in the North Sea Skandi Neptune and Skandi Seven shall be utilized to deliver work totalling more than 180 vessel days excluding any options. All works shall be carried out between 4th quarter 2020 to 2nd quarter 2021. All awards include Project Management engineering procurement and logistics which shall be delivered by our integrated subsea team across Bergen Aberdeen and Luanda. In the North Sea DOF Subsea shall assist a key client with winter subsea inspection programme at UK continental shelf whilst supporting a leading operator with start-up and commissioning activities for a subsea satellite development in Norway. In Angola DOF Subsea shall carry out a greenfield AUV and ROV seabed mapping campaign for an international client prior to commencing a previously announced contract. DOF Subsea has mobilized Skandi Neptune from the North Sea for an undisclosed international client in Africa conducting FPSO class and field inspections programme. Mons S. Aase CEO DOF Subsea said “DOF Subsea continues to secure projects with key oil & gas operators across North Sea Mediterranean and Africa. These awards secure continuous utilization of our regional pool of specialised subsea vessels and integrated project teams.” For further information please contact: Mons S. Aase CEO DOF Subsea. Tel: +47 91 66 10 12 Marianne Møgster SVP Finance DOF Subsea. Tel: 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
The Carbon Disclosure Project (CDP) results for 2020 have been announced. The CDP acts as a Global benchmark, naming the world’s cities and companies leading on environmental performance.
DOF has scored in the A- category: which recognises that DOF is at CDP’s second highest level of “Leadership”, and within our score we received a maximum grade of A in three categories: scope 1 & 2 emissions, risk management process, and emissions reduction initiatives.
The DOF Group has publicly reported environmental performance through the Carbon Disclosure Project (CDP) since 2010. We have consistently ranked in the top 30 per cent, along with other companies judged to have more advanced environmental stewardship. Last year, we raised our score to a B and this year DOF has again responded bringing the company to the next highest level with an A-.
Reference is made to the bondholders' meeting in DOFSUB07 (ISIN NO 001 0670144) tel. +47 91 66 10 12 CFO DOF Hilde Drønen tel. +47 91 66 10 09 CFO DOF Subsea Jan Nore tel. +47 48 09 46 99 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. www.dofsubsea.com This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Beach Energy has awarded DOF Subsea Australia the Otway Offshore Project Phase 4 contract which consists of subsea installation works in a tie-back program. The award includes Project Management CEO DOF Subsea AS said “We look forward to working with Beach Energy to deliver safe and efficient 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. www.dofsubsea.com
DOF Subsea AS is pleased to announce the appointment of Martin Lundberg as Acting Chief Financial Officer (CFO) with responsibility for the corporate finance functions in the DOF Subsea Group. The appointment is effective from January 1st 2021. Martin joined DOF Subsea in 2010 and has for the past ten years been a key resource in various positions within the corporate finance team in DOF Subsea. Martin will be replacing our current CFO headed by the DOF Group Chairman and will continue his engagement until end May 2021. “As CFO & Executive Vice President since 2009 Jan has contributed tremendously in developing our financial organisation globally and significantly supported DOF in becoming a world class integrated offshore company. He has built a strong global team and I am grateful for his many contributions to our Subsea business. We wish him continued success as Head of Restructuring and a prosperous next chapter in this career once departing from DOF Subsea” says Mons S. Aase. For further information please contact: Mons S. Aase CEO DOF Subsea – Tel: +47 91 66 10 12 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
The Group’s operating income for the 3rd quarter (management reporting) was NOK 1 547 million (NOK 1 458 million in Q3 2019) and the operating profit before depreciation and impairment (EBITDA) was NOK 707 million (NOK 545 million). The average utilisation of the Group's fleet during the 3rd quarter was 83%; 78% for the Subsea/IMR Project fleet and 95% for Long-term Chartering fleet. At the end of the 3rd quarter 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 is pleased to announce an award for Skandi Africa for a 2-year contract extension. The new contract will commence in direct continuation with the current contract. Skandi Africa is a high-end subsea vessel designed for harsh environment and deepwater subsea construction and flexlay operations. DOF Subsea CEO please contact: Mons S. Aase CEO DOF Subsea. Tel: +47 91 66 10 12 Marianne Møgster SVP Finance DOF Subsea. Tel: 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
Harald Thorstein has been elected as a new member of the board of directors of DOF Subsea AS. Hans Olav Lindal tel. +47 48 09 46 99 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"
The DOF Group is pleased to announce another contract award in Brazil for Libra Consortium 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 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 Offshore Energy Marine Telecommunications and Renewables markets. www.dofsubsea.com"