The extension, worth about NOK 2.5 billion ($387 million), starts March 1, 2015, in direct continuation of its current contract. The vessel is currently operating under a five-year contract with Petrobras that began March 1, 2010.
The Skandi Santos is designed to install and retrieve subsea trees and modules, including subsea structures and manifolds at water depths to 2,300 m (7,546 ft). The vessel will continue its current scope of work and also start installing Petrobras' new generation of subsea trees offshore Brazil.
The Skandi Santos and the installed ROVs are owned by DOF Subsea and leased to AKOFS Offshore, which owns and operates the vessel's topside and subsea equipment.