DOF Subsea and Technip JV Wins Major PLSV Contract from Petrobras

vard dof subsea technip pipelay

A 50/50 joint venture between DOF Subsea and Technip has just won a USD $3.4 billion contract from Petrobras for the construction and operation of four new pipelay support vessels (PLSVs) offshore Brazil.

Under the DOF Subsea/Technip joint venture agreement, Technip will manage flexible pipelay and Norskan S.A., a DOF ASA subsidiary, will be responsible for marine operations.

For shipbuilder Vard Holdings Limited, this is the largest contract they have ever received. The design and build order comes at a value of approximately NOK 6.5 billion, (USD $1.1 billion).

Two of the vessels, of VARD 3 05 design with a 650-ton laying tension capacity, will be delivered in 2Q 2016 and 3Q 2016 respectively. The hulls of these vessels will be built at Vard Tulcea in Romania and outfitted at Vard Søviknes in Norway. The other two vessels, of VARD 3 16 design with a 300-ton laying tension capacity, will be delivered from Vard Promar in Brazil, in 4Q 2016 and 2Q 2017 respectively.

Topside equipment for all four ships will be delivered by Huisman of the Netherlands.

The contracts will last eight years from start of operations and include an 8-year renewal option.