DOF Subsea awarded NOK 3bn in contracts

expat network

DOF Subsea awarded NOK 3bn in contracts

DOF’s subsidiary DOF Subsea has been awarded several major contracts with a total value in excess NOK 3 billion, including options, securing both short term and long term utilization of assets and personnel.

In the North America 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 10 years options. The work scope includes a Light Intervention Vessel and 2 work class ROV systems and personnel. The offshore operations will commence in 4th quarter 2015 by mobilizing 2 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.

Mons S. Aase stated: “I am very pleased with the Group’s ability to secure term work in a challenging market, and especially winning the Husky contract and strengthening the North America subsea region. This award is a team effort, utilizing the expertise within all disciplines in the DOF Group.

The total IMR contract award during 2015 is in excess of NOK 6.5 billion. Securing several strategic long-term IMR contracts will strengthen DOF Subsea’s position within the global IMR market.”

For more information, please visit: www.dof.no via Your Project News

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.