DOF Subsea gets New Pact for Construction Vessel from Subsea 7

24 April 2012

Norwegian offshore engineer DOF ASA (DOF.OS) said Tuesday that seabed-to-surface engineering contractor Subsea 7 SA (SUBC.OS) has exercised an option with its DOF Subsea AS unit to extend the contract on the construction vessel Skandi Seven by 1 year from Mar. 31, 2013.

MAIN FACTS:

-DOF Subsea has previously announced that Subsea 7 has fixed the vessel Skandi Skansen for a period of 100-200 days per year over the next 4 years.

-Subsea 7 has declared an option and extended the contract and will utilize the vessel Skandi Skansen for a fixed period until Jul. 2013.

-DOF Subsea Asia Pacific has entered into several contracts in the Far East where the vessels Skandi Singapore, Skandi Hercules and Geobay will be utilized under the contracts.

-DOF Subsea Atlantic has entered into a contract with ConocoPhillips (COP) where the vessel Skandi Skolten will be utilized under the contract.

-The total value of the new contracts are about NOK520 million.