Petrobras Partners With DOF on Major $390M Subsea Inspection

Petrobras PBR, Brazil’s state-owned integrated oil and gas company, has taken another decisive step in reinforcing its dominance in offshore energy operations. The company has entrusted DOF Group, a leading vessel operator from Norway, with a major role in its subsea inspection initiative. The result is a contract package valued at approximately $390 million, awarded after a highly competitive tendering process.

DOF Secures Three Strategic Assignments From Petrobras

DOF has emerged as a key partner in Petrobras’ long-term strategy to enhance subsea infrastructure integrity. The award consists of three substantial service contracts, each designed to support Brazil’s oil and gas operator in its inspection and maintenance objectives across the country’s expansive offshore oil and gas basins. These new agreements build upon a strong operational legacy, with DOF having already completed more than 7,000 subsea inspections in collaboration with Petrobras.

This trio of contracts is structured on an inspection-based model, departing from the conventional day-rate format. This new model grants DOF strategic fleet flexibility while ensuring operational efficiency for Petrobras. The move highlights a shift in how high-value inspection services are being approached within the offshore sector, favoring results-driven agreements that maximize vessel utilization and reduce idle time.

High-Value Operations Across Brazil’s Offshore Basins

The upcoming operations will focus on three of Brazil’s most productive offshore regions — Santos, Campos and Espirito Santo basins. These areas are instrumental in sustaining Brazil’s oil output and require constant oversight to maintain safety, environmental integrity and production reliability.

As part of the new agreements, DOF will deploy at least three vessels, each outfitted with work-class remotely operated vehicles (“ROV”), capable of executing complex inspection tasks at significant depths. In addition, the project will involve a specialized ship, fully equipped and crewed for shallow water air diving inspections, further expanding the operational scope across different depths and geological profiles.

These comprehensive operations are slated to begin in the first half of 2026 and expected to continue over a three-year term, marking a long-term collaboration between Petrobras and DOF in subsea asset integrity management.

More Than 4,000 Planned Subsea Inspections Under Contract Scope

The scope of work defined in the contracts includes more than 4,000 planned inspections, indicating a substantial volume of operational activity. The inspections will serve as a critical measure for Petrobras to assess and maintain the structural integrity of its underwater infrastructure, which includes pipelines, manifolds, risers and subsea production systems.

Each inspection will involve high-resolution imaging, sonar mapping, structural analysis and performance diagnostics, enabling Petrobras to act on early warning signs of wear, corrosion or potential failure. With the continued evolution of deepwater technologies, this initiative supports Petrobras' goal of maintaining technical superiority in subsea exploration and production.

DOF Reinforces Its South American Footprint

This major win for DOF comes just days after announcing a contract extension in Argentina for another vessel, further reinforcing its strategic footprint in South America. The recent divestment of an underutilized vessel demonstrates DOF's commitment to optimizing fleet resources in line with high-value contracts like the Petrobras deal.

CEO Mons S. Aase emphasized the significance of the win, describing the agreements as a testament to DOF’s capacity for innovation, operational excellence and adaptability in the evolving offshore landscape. The partnerships reflect a high level of confidence from Petrobras in DOF’s capabilities to deliver on critical infrastructure support.

Strengthening Brazil’s Offshore Energy Infrastructure

As global demand for reliable energy sources continues to rise, Petrobras’ decision to scale up the subsea inspection efforts highlights its strategic focus on asset longevity, environmental safety and operational efficiency. These inspections are not just preventive measures, they are integral to sustaining the energy output of Brazil’s offshore assets.

The involvement of a seasoned player like DOF, with its advanced technology, highly trained crews and global experience brings added value to Petrobras' operations. The long-term contracts ensure consistent, high-quality inspection work that can proactively identify issues before they escalate into costly repairs or production interruptions.

Looking Ahead: A New Era for Subsea Services in Brazil

With the signing of these three contracts, DOF and Petrobras are setting the stage for a new era in offshore inspection services, driven by performance-based outcomes and technological precision. The collaboration strengthens Brazil’s position as a global leader in offshore oil and gas, and exemplifies the type of collaboration needed to navigate the complex challenges of subsea infrastructure management.

The $390 million contract package marks not just a financial milestone but a strategic alignment between two industry leaders committed to sustainable offshore operations, innovation and long-term value creation in the South Atlantic.

PBR's Zacks Rank & Key Picks

Currently, PBR has a Zacks Rank #3 (Hold).

Investors interested in the energy sector might consider better-ranked stocks such as Vitesse Energy, Inc. VTS, which currently sports a Zacks Rank #1 (Strong Buy), TechnipFMC plc FTI and Repsol, S.A. REPYY, carrying a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

Vitesse Energy specializes in providing fluid transfer and control products for the energy sector, offering innovative solutions to optimize performance and reliability. The company serves a diverse customer base across the oil and gas, industrial and renewable energy markets. Vitesse Energy is valued at $932.91 million.  

TechnipFMC is a global leader in the energy sector, providing integrated services and technologies for the oil, gas and renewable industries. The company specializes in subsea, onshore, offshore and surface technologies, offering innovative solutions to support energy transition and sustainability. TechnipFMC is valued at $16.59 billion.  

Repsol is a global energy company known for its integrated operations spanning exploration, production, refining and marketing of oil and gas. It actively pursues innovation and sustainability initiatives to transition toward cleaner energy solutions while maintaining a strong presence in key international markets. Repsol is valued at $21.28 billion.  

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