DOF Group ASA, together with its subsidiaries, owns and operates a fleet of supply and subsea vessels. It operates a fleet of platform supply vessels (PSVs) that are used to transport oilfield products and supplies to offshore drilling and production facilities; anchor handling tug supply (AHTS) vessels used to set anchors for drilling rigs, and tow mobile drilling rigs and equipment from one location to another; and subsea vessels. The company also provides subsea services, including project management, engineering, construction and installation, life-of-field, decommissioning/field abandonment, and survey and positioning, as well as inspection, repair, and maintenance services. In addition, it offers marine management services, such as chartering, crewing, mobilization, maintenance, refurbishment, project and new building, and compliance services. The company operates a fleet of 11 PSVs, 15 AHTSs, and 28 subsea vessels, as well as 72 remotely operated vehicles and autonomous underwater vehicles. It operates in Brazil, the United States, Australia, the United Kingdom, Norway, Angola, Canada, the Philippines, Argentina, the Netherlands, Singapore, and internationally. The company was founded in 1981 and is headquartered in Storebø, Norway.

DOF Group ASA

DOF Group is an integrated offshore services provider offering subsea and marine services for offshore operations in the oil and gas industry.

DOF Group

With a multi-national workforce of about 4,000 personnel, DOF is an international group of companies which owns and operates a fleet of modern offshore/subsea vessels, with an engineering capacity to service both the offshore and subsea market. With more than 40 years in the offshore business, the group has a strong position in terms of experience, innovation, product range, technology, and capacity.

CONTRACT EXTENSION FOR SKANDI AFRICA
DOF Subsea is pleased to announce an agreement for the extension for the vessel Skandi Africa. The new commitment will now run until May 2028 and will commence in direct continuation with the current commitment.

Skandi Africa is a high-end subsea vessel designed for harsh environment and deepwater subsea construction and flexlay operations.

DOF Subsea CEO, Mons S. Aase, stated, "Skandi Africa is the most sophisticated vessel in our fleet and we are looking forward to continuing the journey, delivering successful installation campaigns."

This contract was first announced through a stock exchange notice at 10:45, 19.08.2024. See the official and complete press release at: www.dof.com

DOF GROUP ANNOUNCES AWARDED CONTRACT FOR SKANDI AÇU WITH PETROBRAS
DOF is pleased to announce a new long-term contract with Petrobras out of the last pipelay support vessel (PLSV) tender and an extension of the current contract for the PLSV Skandi Açu. The existing contract has been extended to mid-2026. This extension will be followed by the new 3-year contract ending mid-2029.

We are also pleased to advise that PLSV Skandi Buzios went back on-hire to Petrobras on August 1st, 2024.

Both vessels are owned by Techdof AS, a joint venture between DOF Subsea (50%) and TechnipFMC (50%).

Mons S. Aase, CEO DOF Group ASA, said, “We are pleased to announce another award under this PLSV tender, adding important back log to the Group, and it confirms our long relationship with Petrobras".

This contract was first announced through a stock exchange notice at 20:00, 14.08.2024. See the official and complete press release at: www.dof.com

We are proud to welcome our two new Maritime Trainees, Alexandra G. Thorsen and Arvid Austevoll, who have embarked on their maritime leadership journey with DOF.  “I am excited to gain practical experience in maritime areas, work with experienced people in DOF, and develop my career skills” says, Alexandra. Arvid is looking forward to “gaining valuable experience and a broader company perspective”. And we’re excited to follow their journey in DOF!

In association with the Norwegian Shipowners' Association (Norges Rederiforbund), the Maritime Trainee programme spans 18 months and provides a unique combination of practical experience together with a comprehensive academic programme.

 #MaritimeTrainee #FutureMaritimeLeaders #career #offshore #maritime #subsea

On Wednesday (07/24/24), at the invitation of Noruega no Brasil, we had the pleasure of welcoming on board the Skandi Carla, at the Port of Rio de Janeiro, the delegation led by the Norwegian Minister of Finance, Trygve Slagsvold Vedum, and the Governor of the Central Bank of Norway, Ida Wolden Bache, who are in Brazil for G20 meetings.

The visit aimed to learn about a Norwegian vessel operating in Brazil and understand how companies in this sector are working locally, seeking opportunities for a sustainable energy transition in an expanding Oil & Gas market in the country.

"At DOF, we are firmly committed to bringing more diversity and inclusion to our sector, seeking sustainable alternatives for our operations, reducing our carbon footprint and pollutant gas emissions, continuing to expand our fleet, and providing quality services to our clients in a safe and responsible manner," emphasized Mario Fuzetti, EVP of DOF in Brazil.

The Skandi Carla is a high-specification ROV Support Vessel (RSV), built in Norway in 2001, with a Norwegian and Brazilian crew, equipped with WROV, Survey, and shallow diving system, and has been operating in Brazil since late 2020 on PIDF Projects for underwater inspections of flexible pipelines and equipment, under contracts with Petrobras.

The visit was attended by the Ambassador of Norway to Brazil, Odd Magne Ruud, the Consul General of Norway in Rio de Janeiro, Mette Tangen, the Consul for the G20, Marianne Fosland, and the Executive Director of the Norwegian Shipowners' Association (ABRAN), Ricardo Cesar Fernandes da Silva.

The delegations were received by Captain Geir Alme and Offshore Manager Jaime Brito, along with the crew, project teams, and part of DOF's onshore leadership.

DOF GROUP AWARDED MULTIPLE CONTRACTS IN BRAZIL
DOF is pleased to announce multiple contract awards with Petrobras and 1st Tier EPCI-SURF Contractor in Brazil.

AHTS Skandi Jupiter and AHTS Skandi Mercury, both under management contracts with DOF, have been contracted by Petrobras to operate as AHTS 230t BP after the same competitive tender process earlier this year that led to the contract of Skandi Amazonas, Skandi Rio and Skandi Botafogo.

Both Skandi Jupiter and Skandi Mercury are currently operating in the North Sea region and are planned to be mobilized to Brazil after modifications to comply with Petrobras requirements. Both contracts, with 3-year durations plus options, are scheduled to start by 2Q or 3Q 2025 but can be adjusted by mutual agreement.

Also in Brazil, Skandi Salvador, a Brazilian built and flagged MPSV equipped with 140t AHC crane and two WROVs, was chartered by a 1st Tier EPCI-SURF Contractor for a 180-day firm period plus options, to support their operations at Petrobras Pre-Salt fields developments. Contract commencement is immediately. 

Skandi Salvador is currently operating for Petrobras at Libra as a MPSV with redelivery scheduled for the beginning of August. Geoholm has started the contract as a front runner until Skandi Salvador is released from her current commitments.

In parallel with the charter contract, the 1st Tier EPCI Contractor also awarded a Survey Services contract on board of both vessels to DOF Subsea Brazil.

Mons S. Aase, CEO DOF Group ASA, said, “We are pleased to announce several new contracts in our region Brazil. With Skandi Jupiter and Skandi Mercury we are expanding our fleet and further increasing our footprint in the AHTS segment in the region. With Salvador and Survey Services Contracts we are expanding our client base and reinforcing our position on Survey Services in Brazil” 

This contract was first announced through a stock exchange notice at 09:00, 19.07.2024. See the official and complete press release at: www.dof.com

DOF Group has entered into an agreement to acquire Maersk Supply Service (MSS). We are pleased to announce today that DOF will on certain terms and conditions acquire all the shares in MSS from a wholly owned subsidiary of A.P. Moller Holding A/S. Operating under the DOF Group name and brand, the combined company will be a leading offshore service provider with comprehensive scale and a wide range of services across all continents in the offshore energy industries. By leveraging the strong capabilities and competencies in both companies, we will further enhance our position as a major integrated offshore services provider, making DOF one of the largest oil services companies on the Oslo Stock Exchange.

CEO Mons S. Aase commented:
“The announced transaction today marks a strategic milestone for the DOF Group, driven by a strong industry rationale and a shared vision with A.P. Moller Holding, who will become a major shareholder. Under the DOF name and brand, we will create a leading offshore services provider and strengthen the global position of the combined company. With the world’s largest fleet of CSVs and high-end AHTS vessels, we will enhance the customer experience through increased scale, global reach, and industry-leading services, combining the strong capabilities and decades of experience of DOF and Maersk Supply Service. I look forward to further developing the DOF Group together with my new and existing colleagues, ensuring the continued delivery of world-class services to our customers”

This acquisition was first announced through a stock exchange notice at 18:00, 02.07.2024. See the official and complete press release at: https://lnkd.in/d7Qpg596

We support the LGBTQ+ community, promoting acceptance, respect, and equality for all, regardless of gender identity or sexual orientation. We value and promote diversity and inclusion in the workplace, and we operate a zero-tolerance policy for any form of harassment. Treating people with dignity and respect at work is our guiding principle. A workplace where all are treated fairly, accepted and included equally so we can all benefit from the different talents, experiences and perspectives a diverse team offer and the individual contribution employees make.

Happy Pride Day! 🌈

DOF GROUP AWARDED LONG-TERM FSV CONTRACT
DOF has signed an LOI (Letter of Intent) for a 2-year firm and 1-year optional contract from an undisclosed energy company. The contract is defined as Very Large, excluding optional period and additional services.

DOF shall under the contract utilise Skandi Seven. Startup shall be Q4, 2024, and is planned in direct continuation from ongoing contract. 

In addition to vessel services, DOF shall deliver a full suite of project management, engineering, and logistical services. 

Mons S. Aase commented: “We are very pleased with another award from a very important energy company. With Skandi Seven, we recently reached another milestone delivering more than three million manhours without any LTI’s (lost time injury) while conducting FSV duties. I’m enthusiastic about this award, which will utilise our experience in conducting advanced subsea operations”.

Preparations for the contract have already started from our integrated marine operations team located in Bergen, Norway. 

DOF Group defines a Very Large Contract as a contract with value between USD 100 million to USD 200 million.   

This contract was first announced through a stock exchange notice at 14:05, 24.06.2024. See the official and complete press release at: www.dof.com

DOF GROUP AWARDED MULTIPLE CONTRACTS WITH PETROBRAS 
We are pleased to announce Petrobras has awarded DOF two long-term contracts: a Major Contract for the Pipelay Support Vessel (PLSV) Skandi Niterói, and a Very Large Contract for the Anchor Handling Support vessel (AHTS) Skandi Botafogo. 

The Brazilian built and flagged PLSV Skandi Niterói is awarded a 3-year firm plus option contract commencing in 2025. The vessel is owned by DOFCON Navegação Ltda., a joint venture between DOF Subsea (50%) and TechnipFMC (50%).

The Brazilian built and flagged AHTS Skandi Botafogo (181t BP), that is currently contracted by Petrobras until 1Q 2025, is awarded a 4-year firm plus 1-year option contract commencing in 2025 in sequence to the current contract. Prior to commencement, the vessel will have a Work Class ROV rated 3,000m installed on board delivering an AHTS 180t BP + ROV for the same tender as Skandi Amazonas and Skandi Rio. 

Mons S. Aase, CEO DOF Group ASA, said, “We are thrilled to announce both another award for our PLSV fleet in Brazil and the AHTS contract, which builds backlog into the 2nd quarter of 2029. These long-term awards demonstrate our unique position in Brazil.”

DOF Group defines a Major Contract as a contract with value between USD 200 million to USD 300 million and defines a Very Large Contract between USD 100 million to USD 200 million.

These contracts were first announced through a stock exchange notice at 08:55, 24.06.2024. See the official and complete press release at: www.dof.com

“What I love the most about working as an ROV pilot in DOF is the people and the great work environment onboard the vessels". Curious about the responsibilities of an #ROV pilot? An ROV, or remotely operated vehicle, can perform various underwater tasks. Check out this video featuring Kristoffer Mellingen Børdal to gain insights into what it’s like being an ROV pilot at DOF.

Want to join our team? Check out our ROV vacancies👉 https://lnkd.in/d_XwCGci
#offshore #subsea #integratedservices #ourpeople

	Dec '21	Dec '22	Dec '23
revenue	6.34B -	9.26B 45.89%	11.93B 28.86%
cost of revenue
gross profit	6.34B -	9.26B 45.89%	11.93B 28.86%
selling and marketing expenses
general and administrative expenses	218M -	265M 21.56%	403M 52.08%
selling general and administrative expenses	218M -	265M 21.56%	403M 52.08%
research and development expenses
other expenses
cost and expenses	5.67B -	7.84B 38.21%	9.57B 22.14%
operating expenses	5.67B -	7.84B 38.21%	9.57B 22.14%
interest expense	971M -	1.38B 42.12%	1.14B 17.32%
ebitda	1.79B -	2.71B 51.09%	4.40B 62.09%
operating income	639M -	2.69B 320.19%	4.76B 77.24%
depreciation and amortization	1.44B -	228.49K 99.98%	167.90K 26.52%
total other income expenses net	-1.24B -	-1.75B 41.86%	-737M 57.93%
income before tax	-596M -	933M 256.54%	4.02B 331.08%
income tax expense	54M -	80M 48.15%	-164M 305%
net income	-627M -	865M 237.96%	4.14B 378.50%
weighted average shs out	158.25M -	158.25M 0%	168.02M 6.17%
weighted average shs out dil	158.25M -	158.25M 0%	168.02M 6.17%
eps	-3.96 -	5.47 238.13%	24.63 350.27%
epsdiluted	-3.96 -	5.47 238.13%	24.63 350.27%

COM:DOF

DOF Group

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21/11 15:28

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