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TechnipFMC and DOF Subsea announce the delivery of Skandi B˙zios and commencement of contract with Petrobras

TechnipFMC and DOF Subsea announce the delivery of Skandi B˙zios and commencement of contract with Petrobras

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19 April 2017

TechnipFMC and DOF Subsea (DOF) announce that the Skandi B˙zios, a pipelay support vessel (PLSV) owned by the joint venture formed between TechnipFMC (50%) and DOF (50%), commenced its 8-year charter contract with Petrˇleo Brasileiro SA (Petrobras), as scheduled on April 13th, 2017.

Skandi B˙zios is the sistership of the Skandi Ašu, which started its charter contract on August 13th, 2016. These two vessels have the most important flexible pipelay tension capacity in the world (650 tons), enabling the installation of large diameter flexible pipes in the ultra-deepwater Brazilian pre-salt area.

Under the joint venture agreement, TechnipFMC is responsible for the engineering and management of the flexible pipelay, while Norskan S.A., a DOF ASA subsidiary, is responsible for the marine operations.
Hallvard Hasselknippe, TechnipFMCĺs President of Subsea Projects, stated: "We are confident that these new state-of-the-art PLSVs, together with the expertise of our people will be key for Petrobras to successfully achieve its projects offshore Brazil."

Mons S. Aase, DOF Subsea's Chief Executive Officer, added: "This milestone project is the result of our long-term focus on the Brazilian market. We are proud of this significant addition to our Brazilian fleet."

This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words "scheduledö and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections.  Known material factors that could cause our actual results to differ from those in the forward-looking statements include the Company's ability to successfully deliver, and Petrobrasĺ acceptance of, the vessels ordered.  For additional information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Registration Statement on Form S-4, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof.  We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.