We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Petrobras Awards AKOFS Offshore $246 Million Vessel Contract
Read MoreHide Full Article
Key Takeaways
Petrobras awards AKOFS Offshore a $246M, four-year contract for the AKOFS Santos vessel.
The agreement supports Petrobras' subsea well work and boosts offshore operational efficiency.
Partnerships with Bravante and IKM Subsea enhance Petrobras' integrated offshore capabilities.
Petrobras (PBR - Free Report) 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 contributesapproximately $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.
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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Petrobras Awards AKOFS Offshore $246 Million Vessel Contract
Key Takeaways
Petrobras (PBR - Free Report) 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 - Free Report) , currently sporting a Zacks Rank #1 (Strong Buy), TechnipFMC plc (FTI - Free Report) and Oceaneering International (OII - Free Report) , 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.