DOF Subsea Secures Global Services Contracts

DOF Subsea, a subsidiary of DOF ASA, revealed Wednesday that it has been awarded several IMR (inspection, maintenance, repair) and subsea instalation contracts worth in excess of $61 million (NOK 500 million) over the past few months.

The contracts will secure utilization of the subsea project fleet across a range of regions, according to the company, including Asia-Pac, the Atlantic and North America. In the Asia Pacific region DOF Subsea secured a letter of intent from a “key client” for an EPCI (engineering, procurement, contraction, instalation) project with the offshore phase during the first half 2017. The scope of work includes supply chain management services for the fabrication and supply of mooring chains, the replacement of eight mooring legs and PM&E (participatory monitoring and evaluation).
In the Atlantic region, DOF Subsea was awarded several contracts the past few months including an FPSO mooring instalation and hook-up contract by Yinson Production offshore Ghana, on the Eni operated OCTP field. The contract will secure utilization of the Atlantic organization and regional subsea vessels in the fourth quarter of 2016 and the first quarter of 2017, as well as increase DOF Subsea's presence in West Africa. Other awards include a 5-year pipeline inspection frame agreement with Maersk.
In the North America region, DOF Subsea secured work in the Gulf of Mexico and offshore Canada. The scope of work includes survey, IMR and light construction operations. To service the contracts offshore Canada, DOF Subsea will charter the DOF-vessel Skandi Chieftain for a 100-day job, in addition to increasing the number of ROV systems deployed in the region.

DOF Subsea CEO, Mons S. Aase, said in a company statement:

"I am pleased with the contract awards, securing utilization of people and assets. The FPSO mooring award offshore Ghana, as well as allocating an additional vessel to the Canadian market, increases the group's global presence and improves our market access. This in combination with securing repeat business for our key clients will be important going forward."

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