DOF Subsea Lands Equinor IMR Deal

DOF Subsea said it has been awarded an inspection, maintenance and repair (IMR) frame agreement by Equinor.

The subsea solutions provider of DOF Group said that the duration of the contract is 5 years and is scheduled to start in 2019.

During the course of the frame agreement, Equinor will call-off subsea IMR services as required, DOF Subsea noted.

DOF Subsea at the end of the Q1 2018 reported firm contract backlog of NOK 15.3 billion and recognized quarterly profit of NOK 180 million, bouncing back from NOK 124 million loss same time last year.

During the Q2 2018, the company reported several new deals, including Asia Pacific, West Africa, North Sea and Americas.