Petrobras Taps Fugro for Critical Subsea Inspection Contracts

Petróleo Brasileiro S.A. - Petrobras PBR recently announced its tender results and awarded four multi-year contracts to Fugro, a long-term collaborator known for its technological expertise in subsea inspection and monitoring. These contracts, set to begin in the fourth quarter of 2025, will ensure safe and efficient oversight of Petrobras’ critical subsea infrastructure in Brazil, while also aligning with its vision for a responsible and resilient energy future.Leveraging Innovation for Operational ExcellenceThe contracts will utilize four dedicated vessels — two operated by Fugro and two by its partners — equipped with state-of-the-art remotely operated vehicles (ROVs). This innovative technique will help shift personnel from offshore sites to office-based environments, improving efficiency and allowing real-time data analysis for quicker, more informed decision-making. This collaboration expands the use of Fugro’s remote operations capabilities, including remote ROV piloting, which was successfully pioneered together by Petrobras and Fugro in 2023 from the Fugro Aquarius. This innovative approach not only boosts operational safety by reducing offshore personnel exposure but also supports faster, data-driven decision-making through real-time analytics.Driving Value and Efficiency Into the Next DecadeValued at approximately $340 million over four years, these contracts represent both continuity and evolution. Out of the four contracts, three will be renewals of the existing contracts that are set to expire later this year with improved terms, and one will be an entirely new engagement.This significant milestone reinforces Fugro’s long-standing partnership with Petrobras, built on a shared history of leveraging advanced survey technologies and underwater robotics to drive responsible energy development in the region. It also aligns with Fugro’s strategy of pursuing recurring revenues as a key driver of long-term, sustainable value.Strengthening TiesPetrobras’ selection of Fugro reaffirms confidence in its ability to deliver critical services reliably and safely. This project, which was included in Fugro’s 12-month backlog (as of March 2025), further strengthens its strategic agenda to foster innovation, ensure asset integrity and reinforce leadership in Brazil’s offshore development.PBR’s Zacks Rank & Key PicksHeadquartered in Rio de Janeiro, Petroleo Brasileiro S.A., or Petrobras S.A., is the largest integrated energy firm in Brazil and one of the largest in Latin America. Currently, PBR has a Zacks Rank #3 (Hold).Investors interested in the energy sector might look at some better-ranked stocks like BKV Corporation BKV, Subsea 7 S.A. SUBCY and Oceaneering International, Inc. OII. While BKV and Subsea 7 currently sport a Zacks Rank #1 (Strong Buy) each, Oceaneering carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.BKV Corporation is an energy company that produces natural gas from its owned and operated upstream businesses. The Zacks Consensus Estimate for BKV’s 2025 earnings indicates 338.18% year-over-year growth.Subsea 7 operates as an engineering, construction and services contractor to the offshore energy industry worldwide. The Zacks Consensus Estimate for SUBCY’s 2025 earnings indicates 95.52% year-over-year growth.Houston, TX-based Oceaneering is one of the leading suppliers of offshore equipment and technology solutions to the energy industry. The Zacks Consensus Estimate for OII’s 2025 earnings indicates 57.02% year-over-year growth.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Petroleo Brasileiro S.A.- Petrobras (PBR): Free Stock Analysis Report Oceaneering International, Inc. (OII): Free Stock Analysis Report Subsea 7 SA (SUBCY): Free Stock Analysis Report BKV Corporation (BKV): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks