Petrobras PBR is advancing its offshore growth and operational excellence strategy by awarding a $246 million contract to AKOFS Offshore, a provider of vessel-based subsea well construction and intervention services to the oil and gas industry, for continued services of the AKOFS Santos vessel. This contract, spanning four years and starting in January 2027, highlights Petrobras’ commitment to ensuring consistent and efficient support for its subsea well construction and intervention activities in Brazil’s offshore fields.
As part of its broader strategy, Brazil-based integrated oil and gas company prioritizes partnerships with experienced and reliable service providers to optimize offshore asset management. By extending the engagement with AKOFS Offshore, Petrobras is reinforcing its supply-chain stability and operational continuity in a highly competitive and technically demanding environment.
The AKOFS Santos vessel plays a vital role in Petrobras’ offshore operations, serving as a multi-purpose supply vessel, capable of supporting diverse subsea tasks. Petrobras’ decision to retain this asset highlights its strategic approach to leveraging proven technologies and trusted vessels that align with the goals of safety, efficiency and cost control.
Collaboration with marine services expert Bravante and remotely operated vehicle specialist IKM Subsea further reflects Petrobras’ integrated approach to offshore project execution. These partnerships enable Petrobras to streamline operations, improve response times and enhance subsea intervention capabilities.
This contract award contributes approximately $140 million to AKOFS Offshore’s revenue backlog, which stands at around $612 million as of second-quarter 2025, providing it with a robust platform for sustained growth. For Petrobras, it translates into a reliable operational foundation essential for meeting production targets and supporting Brazil’s energy security ambitions.
In an era where offshore oil and gas operations face increasing technical and environmental challenges, Petrobras’ strategic focus on solid partnerships and dependable vessel support remains a key driver of its ongoing success. This latest contract with AKOFS Offshore exemplifies how this Brazilian oil and gas company continues to align its offshore strategy with operational resilience and long-term value creation.
PBR's Zacks Rank & Key Picks
Currently, PBR has a Zacks Rank #3 (Hold).
Investors interested in the energy sector might look at some better-ranked stocks like Canadian Natural Resources Limited CNQ, currently sporting a Zacks Rank #1 (Strong Buy), TechnipFMC plc FTI and Oceaneering International OII, holding a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Canadian Natural is one of Canada's largest independent oil and natural gas producers, with operations spanning exploration, development and production across North America, the North Sea and Offshore Africa. The company focuses on a diversified portfolio of assets, including oil sands, conventional crude oil, natural gas and thermal in-situ operations. Canadian Natural is valued at $67.72 billion.
TechnipFMC is a global leader in oil and gas services, specializing in the design, engineering and construction of complex energy infrastructure projects. The company provides a wide range of solutions across the upstream, midstream and downstream sectors, including subsea systems, surface technologies and engineering services. TechnipFMC’s expertise enables energy companies to optimize production, improve efficiency and reduce environmental impact, making it a vital player in the evolving energy landscape. It is valued at $15.62 billion.
Oceaneering International is a global provider of engineered services and products primarily to the offshore oil and gas industry, specializing in remotely operated vehicles, subsea engineering and asset integrity management. The company combines advanced technology and expertise to deliver innovative solutions that enhance safety, efficiency and environmental performance in challenging marine environments. Oceaneering International is valued at $2.44 billion.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Petroleo Brasileiro S.A.- Petrobras (PBR): Free Stock Analysis Report TechnipFMC plc (FTI): Free Stock Analysis Report Oceaneering International, Inc. (OII): Free Stock Analysis Report Canadian Natural Resources Limited (CNQ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
