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DOF secures three new service contracts

Published by , Editorial Assistant
World Pipelines,

DOF Group, a Norwegian offshore services provider, has secured three new service contracts from Brazilian state-backed oil and gas company Petrobras. The survey and inspection contracts are valued at Nkr 2.8 billion (US$260 million).

DOF said it will deploy at least three vessels to execute flexible pipeline, riser and subsea equipment inspection in the Campos Basin, Santos Basin and Espirito Santos Basin.

Work is expected to start in 4Q23 or 1Q24 and be completed within two years.

During that time, DOF hopes to execute more than 3 200 inspections.

The Oslo-listed company said these agreements form an extension of DOF's services provided under the PIDF123 contracts, which were agreed on with Petrobras in 2020 and have been in effect since December 2020.

DOF Group CEO Mons Aase said: "This is an important win securing high utilisation for us in Brazil and lifting the group backlog to above Nkr 25 billion. I am very proud for the continued trust Petrobras give us for doing complex [inspection, maintenance, repair] IMR work in very deep water."

Earlier this month, Petrobras announced plans to install 11 new oil and gas production platforms in the Brazilian pre-salt layer by 2027.

As part of its strategic plan for 2023 – 27, the company also aims to invest Nkr 691 billion in exploration and production activities.

By combining the proposed projects with the currently operating units, Petrobras' total daily production capacity is anticipated to reach 3.1 million boe/d in 2027.

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