Two contracts with Petrobras to bring over $192 million to DOF

Norwegian vessel owner DOF Group has secured multiple contracts with Brazilian state-owned oil and gas giant Petrobras expected to generate revenue beyond $192 million.

Following a competitive tender process, Petrobras awarded new long-term charter and service contracts to Norskan Offshore and DOF Subsea Servicos Brasil.

The vessel Skandi Amazonas that was on the spot market is chartered for three years firm with a two-year mutually agreed option via Petrobras tender issued late in 2023, to operate as an AHTS 270t BP.

The vessel is currently in the process of being adapted to the Petrobras contract and is expected to be delivered by mid-May or mid-June.

Furthermore, Skandi Rio, currently operating for Petrobras and equipped with DOF Subsea’s work-class remotely operated vehicle (ROV), has been contracted for an additional four years firm plus a one-year option, as an AHTS 180t BP + ROV.

The contract is expected to commence in the third quarter of this year in continuation of the current contract.

Mons S. Aase, CEO of DOF Group, said: “Building backlog into 2028 at today’s strong market rates is positive and we look forward to continue delivering Petrobras quality services.”

The two companies signed three new service contracts worth more than $260 million in September 2023 under which DOF is in charge of providing survey and inspection work to Petrobras.

The contracts include at least three vessels to perform flexible pipeline, risers and subsea equipment inspection in Campos Basin, Santos Basin, and Espírito Santos Basin.