Norway-based subsea well intervention and installation services company AKOFS Offshore has signed a firm contract with Petrobras, for its subsea equipment support vessel AKOFS Santos, which will continue to operate offshore Brazil.
Following a competitive tender process, the vessel will continue to perform services as a multi-purpose supply vessel (MPSV) for Petrobras in Brazil under a new contract.
The contract has a duration of four years, with operations expected to start in January 2027, following the expiry of the current contract and necessary preparations for the new engagement.
The 121-meter-long AKOFS Santos is of an STX OSCV 03L design, built by STX Europe at Aukra in 2009.
AKOFS Offshore will conduct the AKOFS Santos operations in collaboration with its partners Bravante for marine services and IKM Subsea for remotely operated vehicle (ROV) services.
The total contract value is $246 million, of which about $140 million will be revenue allocated to AKOFS Offshore.
The company, majority owned by Akastor with partner MOL, operates three offshore support vessels, the AKOFS Seafarer, the AKOFS Santos and the Aker Wayfarer.
The vessels are designed to perform operations in up to 3,000 meters (9,800 feet) of water.