Petrobras Extends Contract for Vessel Safe Zephyrus Until 2027

Petróleo Brasileiro S.A. - Petrobras PBR recently solidified its partnership with Prosafe by granting a $109.7 million contract extension for the semi-submersible vessel Safe Zephyrus until September 2027. The vessel, which secured the 954-day contract extension, will provide safety and maintenance support to Petrobras off the coast of Brazil.PBR’s Continued Collaboration With ProsafeProsafe’s initial journey with Petrobras started in 2022 after it secured a $73 million contract in Brazil to accommodate its vessel Safe Zephyrus for 650 days.Prosafe’s position in the market can be validated by extending the contract that it recently secured from Petrobras for 954 days. Prosafe’s vessel Safe Zephyrushas been performing extremely well in providing safety and maintenance within the Buzios business unit of Petrobras.How Will the Contract Extension Improve PBR’s Efficiency?The contract extension, which allows the vessel to remain at work till September 2027, will increase the fuel allowance from 20 cubic meters to 25 cubic meters per day through the extension period, with a total value of about $109.7 million, reflecting its enhanced operational demands. Originally slated to conclude in February 2025, the contract now emphasizes Brazil’s growing need for high-specification offshore units.An Insight Into Semi-Submersible Vessel Safe ZephyrusThe semi-submersible vesselSafe Zephyrus was built in 2016 at Jurong Shipyard in Singapore. It features advanced technologies like the GVA 3000E design, the DP3 system and a 12-point wire mooring arrangement. With accommodation for 450 offshore workers in single cabins, expansive deck space and two 50-tonne cranes, the vessel is well equipped to handle demanding offshore operations.PBR’s Zacks Rank and Other Key PicksHeadquartered in Rio de Janeiro, Petrobras is the largest integrated energy firm in Brazil. Currently, PBR has a Zacks Rank #2 (Buy).Investors interested in the energy sector might look at other top-ranked stocks like ARC Resources Ltd. AETUF, Gulfport Energy Corporation GPOR and Coterra Energy Inc. CTRA.While ARC Resources and Gulfport Energy currently sport a Zacks Rank #1 (Strong Buy) each, Coterra Energy carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.Calgary, Canada-based ARC Resources is engaged in the exploration, acquisition and development of oil and natural gas properties. AETUF’s expected EPS growth rate for next year is 50.78%, which aligns favorably with the industry growth rate of 10.50%.Gulfport Energy is an independent natural gas and oil company focused on the exploration and development of natural gas and oil properties in North America. The Zacks Consensus Estimate for GPOR’s 2024 earnings indicates 108.53% year-over-year growth.Houston, TX-based Coterra Energy is an independent upstream operator engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. CTRA’s expected EPS (earnings per share) growth rate for the next five years is 10.10%, which aligns favorably with the industry's growth rate of 8.30%.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.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 Gulfport Energy Corporation (GPOR): Free Stock Analysis Report Arc Resources Ltd. (AETUF): Free Stock Analysis Report Coterra Energy Inc. (CTRA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks