DOF Group ASA - Awarded cable replacement contract by Statnett

25 Mar 2026 11:18 CET

DOF Group ASA ("DOF") is pleased to announce that it has been awarded a
Substantial* contract by Statnett, Norway's transmission system operator, for
the replacement of high-voltage subsea power cables across Ofotfjorden in the
north of Norway.

The project comprises partial removal of ageing subsea power cables between
Lødingen and Barøya, and the installation of four new 170kV submarine cables
bundled with fibre optic lines. The campaign includes bundled cable laying in
water depths ranging from 10m to 450m.

Main execution is planned between May and September 2027 totalling approximately
40 days from a high-capacity construction vessel in DOF's fleet, supported by
preparatory survey, logistics and onshore works throughout 2026 and 2027.

Mons S. Aase, DOF Group ASA CEO, comments: "We are proud that Statnett has
placed its confidence in DOF for this critical infrastructure project. The
Ofotfjorden cable replacement is a comprehensive scope that plays directly to
our strengths: engineering capability, subsea execution, and seamless
integration of vessels, equipment, and our specialist teams. This award
reinforces our track record within power cable installation and demonstrates the
market's trust in DOF as a reliable partner for complex subsea operations. We
look forward to working closely with Statnett to deliver a safe, efficient, and
high-quality project for Norway's electricity network."

Preparatory works including project management, engineering and procurement
starts immediately from DOF's Norwegian and Scottish offices.

*DOF defines a Substantial contract as a contract with value between USD 25 and
50 million.

Contact information:

Eirik Vardøy, Investor Relations DOF Group ASA

Phone: +47 94 83 64 64

About DOF:
DOF Group ASA (OSE ticker: DOFG) is a leading provider of offshore and subsea
services to the offshore energy industry. The company owns and operates a fleet
of modern offshore/subsea vessels which is combined with strong engineering
capabilities to provide integrated offshore services globally.
www.dof.com

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