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| Image from DOF Subsea. |
DOF Subsea has been awarded several major contracts with a total value in excess US$351 million (NOK 3 billion), including options, securing both short-term and long-term utilization of assets and personnel.
In the North American region, DOF Subsea has been successful in securing a major IMR contract with Husky Energy in support of their operations offshore Eastern Canada.
The DOF Subsea team based in St. John's will supply IMR services over a period of 10 years firm, with options for an additional 10 years. The work scope includes an IMR vessel and two work class ROV systems and personnel.
Offshore operations will commence in 4Q 2015 by mobilizing two work class ROVs on a third party vessel on charter to Husky, followed by delivery of a DOF IRM vessel in 2017. This IMR contract is of strategic importance for DOF Subsea, seeing the Group's presence in the Canadian offshore market being substantially strengthened as well as establishing a solid relationship with Husky Energy.
In addition, the North America region has been awarded a term contract in the Gulf of Mexico. The contract has a firm period of 10 months with option to extend, and the operations will commence in October 2015. One of the group's subsea vessels will be utilized under the contract. The award is an extension of a current contract held by DOF Subsea North America for a key client in the region.
In the Asia Pacific region, several contract awards over the recent weeks with key clients will secure utilization of the regions vessels. The scope of work includes IMR services, mooring and light construction. With the recent awards, close to full utilization of the regions 4 vessels for the reminder of the year is secured, as well as a good visibility for 2016.
“The total IMR contract award during 2015 is in excess of NOK 6.5 billion,” said Mons S. Aase, CEO, DOF Subsea. “Securing several strategic long-term IMR contracts will strengthen DOF Subsea's position within the global IMR market over the next years."
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