Brazilian offshore service provider Ocyan, part of US-based institutional investor EIG, has signed a contract with Petrobras reportedly worth around 750 million reais ($134m) for maintenance and maritime services in the Búzios field.

The deal will last at least four years and can be extended for up to 320 days. This is the biggest deal for the company since the pandemic and will create some 500 jobs.

Ocyan will provide maintenance, painting, piping, equipment fixing, electrical system replacement as well as structural maintenance. The company will be working on the five platforms already in operation in the field – the P-74, P-75, P-76, P-77, and the Almirante Barroso.

Búzios is the second largest oil producer in Brazil, behind only the Tupi field currently in decline, even though it is currently under development. The current development concept includes 11 platforms and Petrobras is the operator with an 88.99% share. The group has partnered with CNOOC and CNPC which hold 7.34% and 3.67% respectively.