Brazil: Wilson Sons Signs PSVs Construction Contract with Petrobras

Brazil - Wilson Sons Signs PSVs Construction Contract with Petrobras

Wilson Sons Limited has, through its subsidiary Wilson, Sons Ultratug Offshore (“WSUT”), signed a contract with Petrobras for the construction and operation of 4 (four) vessels type PSV 4500 (Platform Supply Vessel). This contract is part of the Petrobras Program for the Renovation of the Offshore Support Fleet (“Prorefam”).

The Company intends to finance the 4 vessels through the Marine Merchant Fund (FMM). The vessels will be built at the Wilson, Sons Shipyard facilities in Guarujá, São Paulo, and are expected to be delivered by 2015. The expected fleet includes more than 30 joint venture-owned OSVs (Offshore Support Vessels) by 2017.

The WSUT strategy is to build an adequate mix of vessels to attend the demand from national and international oil companies operating in Brazil. According to Petrobras strategic plan, it will require nearly 300 new chartered OSV’s by 2020 to fulfill their exploration and production of pre-salt and post-salt reserves.

Source: Wilson Sons , March 13, 2012