Petrobras is set to go on an offshore vessel contracting spree that could be worth $1bn.
Over the past two weeks, the Brazilian oil and gas giant issued tenders that could end up with as many as 20 platform supply vessels placed on four-year contracts, according to a report by TradeWinds’ sister publication Upstream.
The report said the PSV tenders vary in size and are open to Brazil-flag and internationally flagged vessels.
The company is also looking for up to 12 Brazil-flag oil spill response vessels and an anchor handling tug supply vessel, with contracts for both ship types running for four years.
It also reportedly wants flexible pipelaying support vessels, shallow diving support vessels and remotely operated vehicle support vessels.
Many offshore observers expect the market to be on the cusp of a multi-year upturn after nearly a decade of languishing brought on by two oil price crashes.
Last month, Clarksons said its index of rig, offshore support vessels and subsea day rates hit 100 points, more than doubling from the start of 2021.
The broker said the index was nearing the 2013 high of 101 but was still some way off the all-time high of 114 in 2008.
Meanwhile, owners report rate increases across the board, with winter earnings in some segments hitting levels typically only reached in the warmer months, when activity is higher.
Market observers have said the upturn will be driven by higher demand from traditional oil and gas customers and renewable energy projects.
The improvements will be further bolstered by a lack of ship supply, as many low-specification vessels have been scrapped or are uneconomical to put back on the water, and newbuilding slots and financing are hard to come by.
