DOF Group ASA (DOF) is pleased to announce the award, following a competitive tender process, of 12-year long-term charter/services contracts for ROV Support Vessels (“RSV”) in Brazil. The contracts will result in the construction of 4 (four) newbuild vessels to support subsea inspection, maintenance and repair (IMR) activities in Petrobras’ deepwater operations, with expected commencement from 2030.

The Navship yard in Brazil is expected to be engaged for the construction of the vessels, with planned delivery of the first two vessels within 4 years after contract signature, aligned with the contract commencement schedule. The vessels will be DP2, with approximate dimensions of 98m length x 20m beam x 6.3m draft, equipped with an offshore subsea crane and designed for deepwater operations, accommodation for up to 58 people, 2 x WROV, ABS class and considered “green vessels” designed for hybrid fuel propulsion, ethanol and diesel, and batteries pack.

Financing for the vessels is expected to consist of a large portion of local development debt funding at attractive terms.

While the contracts, the operation of the vessels and the full scope of services shall be entirely performed by and remain the sole responsibility of DOF Subsea Brasil, 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.

Mons S. Aase, CEO DOF Group ASA, commented: “We are very proud to be awarded these contracts by Petrobras. Winning contracts for newbuilds backed by 12-year contracts enables low risk growth and environmentally friendly fleet renewal while manifesting DOF’s position as a leading player for subsea inspection, maintenance and repair services in the Brazilian market. 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 import tonnage capacity for our international vessels into one of the most attractive subsea markets globally."

About DOF Group

With a multinational workforce of more than 5,000 personnel, DOF Group ASA is an international group of companies which owns and operates a fleet of modern offshore/subsea vessels, and engineering capacity to service both the offshore and subsea market.
With over 40 years in the offshore business, the group has a strong position in terms of experience, innovation, product range, technology, and capacity. DOF's core businesses are vessel ownership, vessel management, project management, engineering, vessel operations, intervention, and diving operations primarily for the oil and gas sector.
From PSV charter to Subsea engineering, DOF offers a full spectrum of top-quality offshore services to facilitate an ever-growing and demanding industry. The Company's main operation centres and business units are located in Norway, Denmark, the UK, the USA, the Philippines, Singapore, Brazil, Argentina, Canada, Angola, and Australia.

About Petrobras

Petrobras has upwards of 100 production platforms, 16 refineries, 30,000 kilometers of pipelines and more than 6,000 service stations. Our proved reserves are around 14 billion barrels of oil, a figure expected to double in the next few years. With the discovery of oil and gas in the pre-salt region, Brazil may become the world's fourth biggest oil producer in 2030.