DOF Clinches Charter Contracts with Petrobras for NOK 5.2B

Norskan Offshore in Brazil, a subsidiary of DOF ASA has been awarded four 8 years contracts with Petrobras for large AHTS vessels. Two of the charter contracts are for newbuildings nos 26 and 27 at STX Promar in Brazil. Norskan is in final negotiation with STX Promar for two newbuilding contracts to serve the other two charter contracts awarded. Expected commencement for the charter contracts will be in the period from 2011 to 2013. The four contracts represent a gross revenue of approx. NOK 5,2 billion.

DOF CEO Mons Aase commented, "We are pleased to state that these four contracts represent the highest contract value the DOF group ever has been awarded from one client. The contracts are an important step to continue the DOF group's growth plans in Brazil, both in increasing the fleet and organization in this region."