By Brazil Stock Guide – Petrobras (PETR4.SA) has signed two contracts worth 700 million reais ($140 million) with OceanPact (OPCT3.SA), a Brazilian marine services provider, to conduct offshore environmental monitoring. The deals, closed after a competitive bidding process, cover the collection of water, sediment and biological samples to meet regulatory requirements and support the company’s exploration, production and R&D activities.
“These data are essential for obtaining and maintaining Petrobras’s environmental licenses. They are part of the company’s commitment to Ibama,” said Fred Marins, director at OceanPact Geosciences, according to a report from Valor Econômico.
The first contract runs for three years and spans all Petrobras areas of interest, while the second lasts one year with a focus on Brazil’s Equatorial Margin, a frontier exploration region. No overseas projects are planned under these agreements, OceanPact said.
Petrobras confirmed the deals, noting they were executed in compliance with Brazil’s State-Owned Companies Law (Lei 13.303/2016).
OceanPact, one of Petrobras’s key suppliers, has 18 vessels currently under contract with the state-controlled oil major. “We also hold subsea, geoscience, logistics and environmental service contracts with Petrobras,” said Erik Cunha, the company’s commercial and marketing director.