DOF Secures Contracts in Australia; CFO Hilde Drønen to Step Down

Norwegian vessel owner DOF has expanded its presence in Australia with two contract awards and a charter extension. These developments, detailed in the latest Oslo stock exchange reports, contribute to DOF’s backlog of work and enhance fleet utilization for 2024 and 2025.

One of the newly secured contracts is for the multipurpose support vessel Skandi Hercules, operating off the Australian coast until Q3 2024. Additionally, DOF secured an extension to the contract for the diving support vessel Skandi Singapore, ensuring full commitment until September 2024, with further options available into Q1 2025. The combined value of these awards exceeds US$20 million for the firm part of the contracts.

DOF also announced a contract for its platform supply vessel Skandi Kvitsøy with an international oil company for two years firm from Q1 2024, with two-year charter extension options, further strengthening its presence in Australian waters.

These achievements come amidst the decision of DOF Group Chief Financial Officer Hilde Drønen to step down at the end of 2024 after serving in the position since 2005. Martin Lundberg, DOF’s Senior Vice President for Finance and Head of Investor Relations, will succeed Drønen as the new CFO, working closely with her until the end of the year.

Lundberg, who joined DOF in 2010, previously served as CFO of DOF Subsea before assuming his current position in 2023. DOF will soon commence the search for a replacement for Lundberg as head of investor relations.

Mons Aase, CEO of DOF, expressed gratitude for Drønen’s significant contributions to the company over more than 25 years, particularly highlighting her role in positioning DOF for long-term success and guiding the recent financial restructuring.

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