The contracts will result in the construction of four newbuild vessels to support subsea inspection, maintenance and repair (IMR) activity undertaken by Petrobras in deep water. Commencement is from 2030.

Navship yard in Brazil is expected to be engaged for the construction of the vessels, with planned delivery of the first two ships in four years from contract signature.

The RSVs will be DP2, with a length of approximately 98 m, beam of 20 m and 6.3 m draft. They will be equipped with an subsea crane and designed for deepwater operations. The new vessels will have accommodation for up to 58 people, will have two work-class ROVs, will be classed by ABS and have hybrid propulsion, engines capable of operating on ethanol and diesel, and battery packs.

Financing for the vessels is expected to consist of a large portion of local development debt funding at what the company described as ‘attractive terms.’

DOF Subsea Brasil will be responsible for the operation of the vessels and the full scope of services to be provided, but DOF is considering alternative ownership structures for the vessels as part of its financial strategy. Any such arrangements will not affect DOF Subsea Brasil’s contractual obligations under the charter/services agreements.

DOG Group chief executive Mons Aase said, “Winning contracts for newbuilds backed by 12-year contracts enables low risk growth and environmentally friendly fleet renewal.

“The contracts also speak to the longevity of the offshore oil and gas market in Brazil, showing that our services will be in demand also for the next decades. The four newbuilds will add valuable capacity for our international vessels into one of the most attractive subsea markets globally.”