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Akastor Nets Five-Year Contract Extension from Petrobras

September 29, 2014

AKOFS Offshore, a part of Akastor ASA, has been notified of a five-year contract extension from Petrobras to use the Skandi Santos, a Subsea Equipment Support Vessel in Brazil.

Akastor Nets Five-Year Extension from Petrobras

The extension, worth about $387 million (NOK 2.5 billion), will start March 1, 2015 in direct continuation of the current contract. The vessel is currently operating under a five-year contract with Petrobras that began March 1, 2010.

The Skandi Santos is designed to install and retrieve subsea trees and modules, including subsea structures and manifolds at water depths of up to 2,300 meters. The vessel will during the contract extension period continue with its current scope of work and also start installing Petrobras’ new generation of subsea trees offshore Brazil.

Akastor Nets Five-Year Extension from Petrobras

The Skandi Santos and the installed remotely operated vehicles are owned by DOF Subsea and leased to AKOFS Offshore, who owns and operates the vessel’s topside and subsea equipment.

Press Release, September 29, 2014