Oceânica Signs $70 Million Contract with Petrobras

Brazilian subsea services company Oceânica Engenharia e Consultoria signed a new long-term contract with Petrobras, valued at approximately R$ 354 million, equivalent to about US$ 70 million according to the conversion reported by international media. The agreement was officially announced on October 8 and covers specialized technical services in offshore diving and diverless operations using remotely operated vehicles (ROVs).

The contract runs for four years and provides for activities across up to four simultaneous service fronts. Operations are expected to begin in the first half of 2027, with contract execution extending through 2031. Oceânica did not disclose which Petrobras offshore fields or units are covered by the agreement.

With this new award, Oceânica's project backlog rises to approximately R$ 10.3 billion, equivalent to about US$ 2.05 billion according to Splash 247's estimate. Oceânica's commercial director, Luis Paulo Assumpção, stated that the contract strengthens the company's position in Brazil's offshore subsea services market and deepens its decades-long partnership with Petrobras.

This new agreement adds to a series of long-term contracts Oceânica had announced in March with Petrobras, with a combined value of US$ 736 million. Those contracts also run for four years, with operations starting in the first half of 2027 and continuing through 2031.

According to information released by the company, the contract strengthens its position in the domestic subsea services market and expands its participation in the support chain for offshore oil and gas operations in Brazilian waters. The use of ROVs allows for remote underwater inspections and operations, reducing divers' direct exposure in certain activities.