DOF Group ASA has announced the award of a subsea installation contract in Africa, which the company classifies as a Significant contract. According to DOF's own definition, a Significant contract is one with a value between USD 15 million and USD 25 million.

The announcement was published on October 22, 2026, through the company's official newsroom. The contract adds to DOF's backlog for 2027 and, according to the company, further strengthens its position in the African subsea market.

Scope of Work

Under the contract, DOF will deliver project management, engineering, logistics, and offshore execution services for the transportation and installation of various Subsea Production Systems, commonly referred to as SPS, in deep-water field developments. The work is being carried out in support of a client's field development objectives, with DOF describing the client as a leading operator.

The scope of the award spans both onshore and offshore activity. Project management, engineering, and planning activities will be delivered by DOF's Atlantic region teams based in Bergen and Aberdeen. Offshore execution will be carried out during a dedicated offshore campaign, meaning the installation work at sea will take place within a defined campaign window rather than as a continuous long-term deployment.

Vessel and Schedule

The contract will be executed by the vessel Skandi Acergy. Work is scheduled to commence in early Q1 2027, with an expected duration of approximately 100 days.

No further details regarding the vessel's specifications or mobilisation arrangements were provided in the announcement.

Management Commentary

Mons. S. Aase, Chief Executive Officer of DOF Group ASA, commented on the award: "We are pleased to secure this award and the trust placed in DOF by a leading operator. Deep-water SPS installation is a critical phase in the development of any field and requires careful planning, strong engineering, and proven execution capability. Our priority will be to safeguard the installation, effectively manage project risks, and deliver the work safely, efficiently, and on schedule. We look forward to supporting our client in the successful delivery of this project."

The CEO's remarks underline the company's framing of deep-water SPS installation as a critical phase in field development, one that the company says requires careful planning, strong engineering, and proven execution capability. Aase also identified safeguarding the installation, managing project risks, and delivering the work safely, efficiently, and on schedule as DOF's priorities for the campaign.

Strategic Context Within DOF's Business

The award sits within DOF's subsea services offering. The company describes a long track record in inspection, maintenance, and repair, known as IMR, and light construction work, and it positions its subsea services business alongside its renewables activities, which include advancing floating wind services.

DOF also operates a marine management business, in which it states it has been setting the standard in ship management since 1981, and operates a fleet of modern, purpose-built offshore support vessels and subsea assets.

The company operates through regional structures, and the Bergen and Aberdeen teams assigned to this contract belong to DOF's Atlantic region. Aberdeen serves as one of the centres from which DOF delivers engineering and project management, while Bergen is home to the company's Norwegian operations.

Backlog and Market Position

DOF stated that the award further strengthens the company's position in the African subsea market and adds to the company's backlog for 2027. The contract's classification as Significant places its value in the USD 15 million to USD 25 million range under the company's contract categorisation framework.

The announcement did not disclose the identity of the client, the specific field or country where the installation will take place, or the precise value of the contract within the Significant range.

Company Background as Presented

DOF Group ASA presents itself as a values-driven organisation with a vision of unlocking the future together. Its public materials cover sustainability commitments, describing itself as a responsible partner, as well as diversity, equity, and inclusion initiatives. The company maintains health, safety, environment, and quality, or HSEQ, functions, and operates an ethics helpline for reporting serious concerns, including whistleblowing.

For investors, DOF publishes reports and presentations, maintains a financial calendar for investor events, financial reports, and presentations, offers investor webcasts, and provides shareholder information including analyst coverage and key figures. The company's newsroom carries its press releases and announcements.

Contact and Investor Relations

The announcement lists Eirik Vardøy, Investor Relations at DOF Group ASA, as the contact for the award, who is available by phone. The company also maintains a duty phone for emergencies related to its ethics and whistleblowing reporting channel.

DOF notes that, due to privacy laws in multiple countries, it does not handle CVs or job applications through its website contact form, directing job-related inquiries to its careers page instead. The company also offers a subscription service that allows interested parties to receive notifications when it publishes share notices on its website.

What Comes Next

With offshore execution scheduled to begin in early Q1 2027 and an expected campaign duration of approximately 100 days, the Skandi Acergy campaign will fall entirely within the 2027 financial year, contributing to the backlog position the company has disclosed for that year.

Onshore project management, engineering, and planning work led by the Bergen and Aberdeen teams is expected to precede and support the offshore campaign, consistent with the delivery structure described in the announcement.

The award represents the latest addition to DOF's subsea installation portfolio in Africa, a market in which the company says the contract strengthens its position.

Further details of the campaign, including the client's identity and the specific field developments involved, were not included in the published announcement.

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