DOF secures further backlog in APAC at improved rates and margins

DOF secures further backlog in APAC at improved rates and margins

DOF Group has secured a contract and a contract extension in Asia Pacific, securing further backlog in the region.

Source: DOF

The latest contract secured for the region will use Skandi Hercules and see the vessel fully utilized off the Australian coast into the third quarter of this year.

The contracted scope includes project management and engineering, logistics support and execution of various inspection, maintenance, and repair (IMR) activities. 

Furthermore, a contract extension has been secured for Skandi Singapore with the vessel fully committed through Q3 2024 with further options available into Q1 2025. 

The combined value is over $20 million for the firm part. 

Mons Aase, CEO of DOF Group, said: “I am very pleased with these awards bringing the APAC region close to full utilisation for first half 2024 at improved rates and margins.” 

DOF announced in mid-December 2023 that Skandi Hercules had won three subsea service contracts with Australian-based operators for offshore execution in 2024.

In terms of the most recent news coming from DOF, the Norwegian company secured a contract with UK energy services provider Altera Infrastructure to install a cylindrical floating production storage and offloading (FPSO) vessel and a floating storage unit (FSO) at Eni’s oil and gas development offshore Côte d’Ivoire, Africa.