DOF Subsea Sells Skandi Protector to Australian Government

DOF Subsea Sells Skandi Protector to Australian Government

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30 November 2015

DOF Subsea has entered into an agreement for the sale of the Skandi Protector to the Commonwealth of Australia.

Delivery to the new owners is expected in the first quarter of 2016, and the sale will result in about $34.5 million (NOK 300 million) in liquidity after the repayment of debt.

Skandi Protector, of Aker ROV 06 design, was built in 2007 and served under contract with the Australian authorities from 2010 to the end of 2014. In 2015, the vessel has been operated as a subsea project vessel for the Asia-Pacific region.

Mons S. Aase, DOF Subsea's CEO, stated, "DOF has for many years appreciated its very good working relationship with the Australian authorities, and this is the second vessel which has been sold to the Commonwealth of Australia. After delivery of Skandi Protector to the new owners, DOF Subsea will allocate another subsea project vessel to the Asia-Pacific region in order to operate under existing and new contracts."