Fugro has been awarded another long-term saturation diving contract by Otto Candies for Petrobras. Following successful partnership for the first Otto Candies' Diving Support Vessel (DSV), which is currently under mobilisation, the award refers to the second DSV, named Wyatt Candies. Otto Candies is providing the DSV and the contract will be managed co-jointly. The tri-partite contract has a value for Fugro of approximately USD 100 million, involving ROV and diving services. The contract has a five year duration with an additional five year option, with operations expected to commence by early 2012.
Furthermore Fugro has signed a contract amendment for the ongoing Toisa Sentinel contract, managed in partnership with Sealion Shipping. As a result, Toisa Sentinel was replaced by Toisa Pegasus, and an additional three years period has been secured, generating a firm backlog of approximately USD 80 million for Fugro until the end of 2014.