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April 26, 2015 5:22 PM ET

Energy Equipment and Services

Company Overview of DOF Subsea ASA

Company Overview

DOF Subsea AS provides subsea services to the oil and gas industry. The company primarily engaged in the vessel chartering; and provision of survey and positioning, project management, and consultancy services. It offers survey and positioning services comprising seabed mapping, subsea positioning, data processing, acoustic positioning, and C3D and C4D visualization; and field development services, such as subsea installation, field enhancement, and decommissioning. The company also provides field production services; diving services for construction and inspection, repair, and maintenance activities; and removal and disposal of subsea infrastructure. In addition, it offers ROV and intervent...

Thormøhlensgate 53 C

Bergen,  5006


Founded in 2005

1,858 Employees


47 55 25 22 00


47 55 25 22 01

Key Executives for DOF Subsea ASA

Chief Executive Officer and Director
Age: 48
Chief Financial Officer and Executive Vice President
Executive Vice President of Asia Business Unit
Executive Vice President of Business Acquisition
Executive Vice President of DOF Subsea - Atlanic
Compensation as of Fiscal Year 2014.

DOF Subsea ASA Key Developments

DOF Subsea Receives Contracts in the Atlantic and North America Region

DOF Subsea has been awarded several contracts in the Atlantic region. The award will include work on both the Norwegian and UK sector. The work scope includes among other installation of flexible flow lines and umbilical's on the Corrib field, operated by Shell Ireland Ltd. The North America region has been awarded several contracts with the regions key client. The contract award will increase the utilization of the vessels Harvey Deep Sea and Chloe Candies.

DOF Subsea ASA Announces Extension of Contract on Skandi Salvador

DOF Subsea ASA announced that Chevron Brasil (Chevron) has extended the contract for Skandi Salvador and IRM services for the remainder of 2015. The extension is a direct continuation of the current contract. The vessel has been operating for Chevron on the Frade oil field since delivery of the vessel in 2009.

DOF Subsea ASA Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

DOF Subsea ASA reported earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company’s total operating income was NOK 1,931 million compared to NOK 1,795 million for the last year. Operating profit before depreciation (EBITDA) was NOK 724 million compared to NOK 555 million for the last year. Operating profit (EBIT) was NOK 564 million compared to NOK 376 million for the last year. Profit for the period was NOK 63 million compared to NOK 162 million for the last year. For the year, the company’s total operating income was NOK 7,073 million compared to NOK 6,289 million for the last year. Operating profit before depreciation (EBITDA) was NOK 2,394 million compared to NOK 1,801 million for the last year. Operating profit (EBIT) was NOK 1,817 million compared to NOK 1,075 million for the last year. Profit for the period was NOK 734 million compared to NOK 220 million for the last year. Net interest bearing debt as of December 31, 2014 was NOK 8,286 million. Profit before tax was NOK 709 million compared to NOK 271 million for the same period a year ago. Net cash flow from operating activities was NOK 795 million compared to NOK 880 million for the same period a year ago. Purchase of tangible assets was of NOK 896 million compared to NOK 1,036 million for the same period a year ago. Profit per share was NOK 6.13 compared to NOK 1.83 for the same period a year ago. Cash flow per share was NOK 2.54 compared to NOK 3.70 for the same period a year ago.

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