Petrobras to Invest $2.7B to Modernize Offshore Support Vessel Fleet

Petrobras announced plans for an investment of $2.73 billion as part of an effort to modernize its offshore support vessel fleet. The company looks to expand its capabilities while also enhancing the performance of its vessels.

Contracts were signed for the construction and chartering of a dozen Platform Supply Vessels (PSVs) to be introduced into the operations by 2028. According to the company, the support vessels will have a hybrid propulsion system, which combines electric motors and batteries with diesel/biodiesel generators, in line with Petrobras' commitment to reducing greenhouse gas emissions.

“These new units will not only incorporate the latest technology but also represent our commitment to sustainable and innovative best practices,” said Magda Chambriard, president of Petrobras. The modernization of the fleet, Chambriard said, is one of the initiatives in Petrobras’ Business Plan for the period between 2025 and 2028. 

These vessels, the company said, will be essential for its Exploration and Production logistics operations.

Petrobras highlights that the initiative will also have a significant positive impact on the national shipbuilding industry and the generation of jobs in the sector. Of the total contracts, it said $860 million is earmarked for investment in Brazil’s shipbuilding sector.

As part of the program, Petrobras also entered into contracts with Bram Offshore and Starnav Serviços Marítimos. Founded more than 30 years ago, Bram operates a fleet of over 70 offshore support vessels and represents Edison Chouest Offshore Group in Brazil. Starnav reports a fleet of 18 offshore support vessels also focusing on the oil and gas sector.

The contracts include a period of up to four years for mobilization and 12 years of operation, in addition to the requirement of 40 percent local content during the construction phase. The vessels will be built in the winning companies' shipyards, located in Santa Catarina, in the cities of Navegantes (Bram) and Itajaí (Starnav). Each company will be responsible for chartering six vessels for Petrobras.