DOF ENTERS INTO LONG TERM CONTRACTS WITH CONOCOPHILLIPS SKANDINAVIA AS

DOF has entered into three long term charter contracts with ConocoPhillips Skandinavia AS for operation in the Norwegian Sector. The contracts will commence 4Q 2012, with a firm period for each contract of 7 years. ConocoPhillips has an option to extend the contracts.

To serve these contracts DOF has entered into three new building contracts with STX OSV AS for construction of three vessels of design respectively STX MRV 05, STX MRV 05 ROV and STX MRV 05 SP.

The vessels will primarily be employed in supply service, stand by service, ROV operations and seismic activities.

Contact person: CEO Mons S. Aase, tel. +47 91661012.