Norwegian DOF Group is set to construct four ROV support vessels (RSVs) that will be deployed for respective 12-year charter/service contracts with Brazilian oil & gas giant Petrobras.

Following a competitive tender process, DOF has been awarded the long-term contracts with Petrobras, with a value close to $2 billion, which will result in the construction of four newbuild vessels to support subsea inspection, maintenance and repair (IMR) activities in deepwater operations in Brazil from 2030.

The DP2 vessels will be designed for hybrid fuel propulsion, ethanol and diesel, and batteries pack, and will be approximately 98 meters long, equipped with an offshore subsea crane, two work-class ROVs, and offering accommodation for up to 58 people.

Brazil’s Navship yard is expected to be engaged for the construction, with the first two vessels anticipated to be delivered within four years following the contract signing, aligned with the contract commencement schedule.

“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,” said Mons S. Aase, CEO of DOF Group.

“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.”

Financing is expected to consist of a large portion of local development debt funding at attractive terms, DOF said.

The contracts, operation of the vessels and the full scope of services will be entirely performed by and remain the sole responsibility of DOF Subsea Brasil, however, the Norwegian firm further announced that it was considering alternative ownership structures for the vessels as part of its financial strategy.