DOF Subsea nets APAC contract pair

DOF Subsea has secured two ‘significant’ contract awards in the APAC region.

In Australia, Chevron has awarded DOF Subsea an IMR services contract to support its North-West Shelf and near shore subsea assets.

Specifically, DOF Subsea will provide DP vessels, ROVs, AUVs, intervention, inspection, management and engineering services.

This award builds on previous IMR services contract and secures a further 5-yearterm under the new deal.

Furthermore, in South East Asia, DOF Subsea has secured a ‘substantial’ contract for a moorings replacement and rectification project.

With onshore works underway, the offshore campaign should take place mid-Q3 2020.

The project will provide utilisation for resources and vessels – Skandi Hercules and Skandi Singapore – throughout Q3 and early Q4 2020.

Mons S Aase, CEO, DOF Subsea, said: “These key contract awards build on successful campaigns delivered in the past for our clients and grow our track -record in the APAC region.

“We look forward to working with our clients to deliver projects safely and efficiently.”

At the end of the first quarter 2020, DOF Subsea had the firm contract backlog of NOK 13.8 billion.

It also reported loss in Q1 2020 of NOK 1.5 billion, against NOK 25 million in Q1 2019.

The company generated operating revenue of NOK 997 million, against NOK 844 million same time last year.