DOF Group secures $2 billion Petrobras contract for four newbuild RSVs in Brazil

DOF Group has been awarded 12-year charter and services contracts for four newbuild ROV Support Vessels to support Petrobras' deepwater subsea IMR activities in Brazil. The contracts, valued at approximately $2.0 billion, involve construction at Navship yard in Brazil with expected commencement from 2030.

DOF Group has been awarded 12-year long-term charter and services contracts for four newbuild ROV Support Vessels to support subsea inspection, maintenance, and repair activities in Petrobras' deepwater operations in Brazil, with expected commencement from 2030, according to an official announcement. The contracts have a total value of approximately USD 2.0 billion and follow a competitive tender process.

DOF Group is a Norwegian offshore vessel operator specialising in subsea services. The vessels will be constructed at the Navship yard in Brazil, with planned delivery of the first two vessels within four years after contract signature. The DP2 vessels will measure approximately 98m length x 20m beam x 6.3m draft, equipped with an offshore subsea crane, accommodation for up to 58 people, two WROVs, and are designed as green vessels with hybrid fuel propulsion (ethanol and diesel) and battery packs.

This development matters for Brazil's offshore oil and gas sector, where deepwater IMR services are in demand for the decades ahead. The contracts manifest DOF's position as a leading player for subsea IMR services in the Brazilian market. Financing for the vessels is expected to consist of a large portion of local development debt funding at attractive terms.

For the offshore services industry, winning contracts for newbuilds backed by 12-year contracts enables low-risk growth and environmentally friendly fleet renewal. While the contracts and operations will be performed by DOF Subsea Brasil, DOF is considering alternative ownership structures for the vessels as part of its financial strategy without affecting contractual obligations. The vessels will add valuable import tonnage capacity for international vessels into one of the most attractive subsea markets globally.