Petrobras Secures 4-Year, $84M Contract with Solstad Offshore for Normand Turquesa Vessel

Petróleo Brasileiro – Petrobras (NYSE:PBR) is one of the best low priced energy stocks to buy now. On July 10, Norwegian shipping company Solstad Offshore/SOFF announced the formal board approval and signing of a 4-year contract with Brazil’s state-owned energy giant Petrobras for the anchor handling tug supply/AHTS vessel Normand Turquesa.

This contract has a gross value of ~$84 million. The Normand Turquesa is a vessel built in 2007 to a UT 722 L design and can accommodate 30 persons. It is 80.4 meters long with a breadth of 18 meters, and features high bollard pull capacity, powerful winch systems, and advanced navigation and dynamic positioning technologies.

The new contract is scheduled to commence in February 2026 and will secure the vessel’s services with Petrobras through February 2030. Solstad also announced a 9-month extension to the vessel’s current contract, bridging the period until the new agreement begins. With this latest contract, the Normand Turquesa will be fully committed until February 2030.

Petróleo Brasileiro – Petrobras (NYSE:PBR) explores, produces, and sells oil and gas in Brazil and internationally.

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Disclosure: None. This article is originally published at Insider Monkey.