DOF Subsea Awarded $50 Million in Construction Support Vessel Contracts

Skandi Singapore

Norwegian offshore engineer Dof ASA (DOF.OS) said Friday it has secured multiple contract awards in Asia Pacific, the Mediterranean and in the Gulf of Mexico over the last couple of weeks, with a total contract value of about $50 million.

 
   MAIN FACTS:

-In the Asia Pacific region DOF Subsea has secured several contracts for a four month campaign offshore New Zealand, utilizing the vessel Skandi Singapore with start-up late Dec. 2012.

-In the Mediterrainian DOF Subsea has secured a contract with Noble, utilizing the vessel Geobay for about 4 months with start-up early Jan. 2013.

-The two vessels Skandi Constructor and Geoholm will transit to the Gulf of Mexico during the Norwegian winter season.

-DOF Subsea has been awarded the first contract on Skandi Constructor, in a three month campaign. DOF Subsea has also secured a contract with Hess on the vessel Geoholm, and together with the recent Saipem award the vessel will be fully utilized during the Gulf of Mexico campaign.

-At 1341 GMT shares traded 1.4% higher at NOK22.40.

– Dominic Chopping, (c) 2012 Dow Jones & Company

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