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Brazilian shipyard wins Petrobras 4.6 billion contract for seven ultra-deep rigs

Saturday, February 12th 2011 - 05:17 UTC
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The first rig is scheduled to enter operations in 2015 The first rig is scheduled to enter operations in 2015

Brazil's government managed oil and gas giant Petrobras said on Friday that local shipyard Estaleiro Atlantico Sul (EAS) had won the tender to build seven drilling rigs in Brazil.

The contract is worth 4.63 billion US dollars. Rigs will be used for the exploration and development of Petrobras pre-salt oil and gas fields that could make the country one of the world’s leading producers of hydrocarbons.

EAS is a consortium formed by South Korea's Samsung Heavy Industries and local construction giants Queiroz Galvao and Camargo Correa. According to the company website, AES was formed in 2005, the shipyard was completed in 2009, and the company specializes in naval and offshore construction

The first rig is scheduled to enter operations in 2015, Petrobras said in a statement. All seven drilling rigs have signed leases, and the day-rates range from 430,000 to 475,000 US dollars.

Companies that also presented bids included Brazilian consortium Alusa Galvao and overseas giants such as Singapore's Sembcorp Marineand Keppel Corp.

Petrobras plans to commission a total of up to 28 new drilling rigs to be built in Brazil to explore oil reserves in deep waters. According to initial plans, the rigs were expected to be delivered between 2013 and 2018.

These rigs are going to be owned and managed by a new holding company, Sete Brasil S.A., which will be held 90% by national bank Caixa Economica Federal and 10% by Petrobras.

According to a 2009 report from Oil & Gas Journal, the first seven drilling rigs will be able to drill in waters up to 3.000 metres deep.

Ultra-deepwater drilling rigs are in high demand due to Petrobras contracting a large majority of the units for exploration and development offshore Brazil. Other ongoing deepwater activities include West Africa and in the mid term the Gulf of Mexico, estimates the oil industry publication.

Financial Tags: PEFGF.

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