The extension is worth approximately $387m to the firm, which is part of Akastor ASA, and will start on 1 March 2015, continuing on from the current contract.

The subsea equipment support vessel Skandi Santos, owned by DOF subsea, is designed to install and retrieve subsea trees and modules, including subsea structures and manifolds at water depths of up to 2,300m.

During the contract extension period the vessel will start installing Petrobras’ new generation of subsea trees offshore Brazil.

AKOFS Offshore is part of Akastor, a newly formed group, following the demerger of the Aker Solutions group. The group announced in April that it would split into two separate companies in an attempt to streamline processes and cut costs.

The drilling technologies, oilfield services and process systems units were grouped into the oil-services investment company, Akastor