Norway: DOF Subsea Secures Contracts Worth up to USD 168.5 Million

DOF Subsea, a leading provider of subsea services with a dedicated capability in all the major oil and gas production areas around the world, yesterday announced that it has secured Contract with Subsea 7 for one DOF Installer class vessel.

DOF Subsea Chartering AS, a subsidiary of DOF Subsea AS, has signed a 4 year contract with Subsea 7. The contact will commence in February 2012. The firm period in 2012 is 185 days with 3 x 25 days options.

For 2013 and onwards the contact period will be between 100 and 200 days annually.

Also, DOF Subsea UK Ltd., a subsidiary of DOF Subsea AS, has signed a one year contract with Integrated Subsea Services Ltd. for the Skandi Inspector. The contract will commence in April 2012.

Letter of Intent (LOI) with major North Sea operator

DOF Subsea Chartering AS has received a LOI from a major North Sea operator for one construction vessel. Commencement is scheduled for second quarter 2012 and the period is 6 months firm plus 6 monthly options. The operator has options to utilise the vessel for the same period in 2013.

The total value for the three contracts, including options, is approximately NOK 1,0 Billion. (USD 168.5 million)

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Offshore Energy Today Staff , December 23, 2011; Image:DOF