DOF Group ASA ("DOF") is pleased to announce the award, following a competitive
tender process, of 12-year long-term charter/services contracts for ROV Support
Vessels ("RSV") in Brazil. The contracts will result in the construction of 4
(four) newbuild vessels to support subsea inspection, maintenance and repair
(IMR) activities in Petrobras' deepwater operations, with expected commencement
from 2030.
The Navship yard in Brazil is expected to be engaged for the construction of the
vessels, with planned delivery of the first two vessels within 4 years after
contract signature, aligned with the contract commencement schedule. The vessels
will be DP2, with approximate dimensions of 98m length x 20m beam x 6.3m draft,
equipped with an offshore subsea crane and designed for deepwater operations,
accommodation for up to 58 people, 2 x WROV, ABS class and considered "green
vessels" designed for hybrid fuel propulsion, ethanol and diesel, and batteries
pack.
Financing for the vessels is expected to consist of a large portion of local
development debt funding at attractive terms.
While the contracts, the operation of the vessels and the full scope of services
shall be entirely performed by and remain the sole responsibility of DOF Subsea
Brasil, DOF is considering alternative ownership structures for the vessels as
part of its financial strategy. Any such arrangements will not affect DOF Subsea
Brasil's contractual obligations under the charter/services agreements.
Mons S. Aase, CEO DOF Group ASA, commented: "We are very proud to be awarded
these contracts by Petrobras. Winning contracts for newbuilds backed by 12-year
contracts enables low risk growth and environmentally friendly fleet renewal
while manifesting DOF's position as a leading player for subsea inspection,
maintenance and repair services in the Brazilian market. The contracts also
speak to the longevity of the offshore oil and gas market in Brazil, showing
that our services will be in demand also for the next decades. The four
newbuilds will add valuable import tonnage capacity for our international
vessels into one of the most attractive subsea markets globally."
The total value of the contracts is close to USD 2.0 billion.
Contact information:
Martin Lundberg, CFO, DOF Group ASA
Phone: +47 91 62 10 57
E-mail: martin.lundberg@dof.com
About DOF:
DOF Group ASA (OSE ticker: DOFG) is a leading provider of offshore and subsea
services to the offshore energy industry. The company owns and operates a fleet
of modern offshore/subsea vessels which is combined with strong engineering
capabilities to provide integrated offshore services globally.
www.dof.com