July 29, 2016 2:31 AM 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. It offers survey and positioning services comprising seabed mapping, subsea positioning, data processing, acoustic positioning, and C3D and C4D visualization, as well as ocean observation systems; and field development services, such as subsea installation, field enhancement, and decommissioning. The company also provides field production services; subsea inspection, maintenance, and repair services; field enhancement services; and diving services for construction and inspection, repair, and maintenance activities. In addition, it offers ROV and intervention services consisting of inspection and survey; CP measurements of su...

Thormøhlensgate 53 C

Bergen,  5006

Norway

Founded in 2005

Phone:

47 55 25 22 00

Fax:

47 55 25 22 01

Key Executives for DOF Subsea ASA

Chief Executive Officer and Director
Age: 50
Chief Financial Officer and Executive Vice President
Senior Vice President of Finance
Age: 42
CSO and Senior Vice President of HSEQ
Executive Vice President of Atlantic
Compensation as of Fiscal Year 2016.

DOF Subsea ASA Key Developments

DOF Subsea Win Several ROV and Diving Contracts

DOF Subsea has been awarded several ROV and diving contracts for the vessel Skandi Achiever in the North Sea and the North America region, securing utilization of the vessel until end-October 2016. Following completion of ongoing commitments in the North Sea, the vessel will mobilize to Canada for ROV and light construction activities with a major oil & gas operator before transiting to the Gulf of Mexico to support saturation and surface diving projects. In Brazil, Petrobras has awarded a new contract for the vessel Skandi Vitória securing utilization for the remainder of 2016. The vessel is owned through a joint venture together with Technip.

N-Sea and DOF Subsea to Provide SAT Dive Service

N-Sea and DOF Subsea have entered into a two-year cooperation agreement to provide an integrated saturation (SAT) dive service. The Cooperation agreement reflects both companies' strategic decision to increase their overall service offering through Saturation diving across Europe, Africa, and Mediterranean. The principles of the agreement are set out with DOF Subsea providing the Dive Support Vessel, Skandi Achiever, whilst N-Sea will provide saturation diving resources. Project Management, Engineering and Diving Manual/Procedures will be provided through an integrated team.

DOF Subsea ASA Reports Group Earnings Results for the First Quarter Ended March 31, 2016

DOF Subsea ASA reported group earnings results for the first quarter ended March 31, 2016. For the quarter, the company’s operating income was NOK 1,343 million compared to NOK 1,558 million for the last year. Operating profit before depreciation (EBITDA) was NOK 495 million compared to NOK 578 million for the last year. Operating profit (EBIT) was NOK 154 million compared to NOK 442 million for the last year. Profit before tax was NOK 345 million compared to NOK 122 million for the same period a year ago. Profit for the period was NOK 316 million compared to NOK 139 million for the last year.

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