DOF Group Wins $2 Billion Petrobras Contracts for Support Vessels in Brazil
DOF Group (DOFG.OL) secured $2 billion charter and services contracts with Brazilian state-owned oil company Petrobras concerning four support vessels for remotely operated vehicles.Under the 12-year contracts, the vessels will be used for subsea inspection, maintenance and repair to support Petrobras' deepwater operations in the country from 2030, according to a Tuesday release. The Norwegian offshore and subsea services company expects to seek the assistance of the Navship yard in Brazil for the construction of the vessels.Delivery of the first two vessels is targeted in four years, with local development debt funding anticipated to largely finance the vessels. The group will oversee the operation of and services on the vessels, but said it is exploring potential alternative structures for ownership as part of its financial strategy.