New Contracts for DOF’s Vessels

DOF has been awarded a new 3 year contract from Fugro Subsea Services Ltd. for Skandi Olympia. The contract will commence in March 2014.

Fugro Subsea Services Ltd. has the right to extend the contract with 2 additional years in addition to the 3 year firm period.

DOF has signed two one year contracts with Total Austral S.A., Argentina for Skandi Møgster and Skandi Saigon. Commencement of both contracts will be in 1st quarter 2014. Total Austral S.A. can extend the contracts with 1 year.

Nexen UK has awarded Skandi Sotra a 2 month contract with commencement in December 2013.

Estimated contract value for the firm part of the above mentioned contracts is approximately NOK 395 million (approx. USD 64 million).

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DOF, December 20, 2013