Odfjell Drilling takes part in Brazilian drilling program

abarrelfullabarrelfull wrote on 07 Aug 2012 19:19
Tags: brazil odfjell pertobras services

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On Friday the 3rd of August, Odfjell Drilling signed in conjunction with their new partner Galvão Oleo&Gás and SETE Brasil contracts for both charter and service, associated with Petrobras’s newbuild program.

– This is an important milestone in the development of Odfjell Drilling’s Brazilian drilling activities. The contract gives us an strong industrial basis and positions Odfjell Galvão for further opportunities in one of the most prospective drilling markets worldwide, says Mr. Simen Lieungh, CEO of Odfjell Drilling

The three drillships under the names Guarapari, Siri and Itaoca will be constructed mainly in Brasil by Estaleiro Jurong Aracruz located in the state of Espirito Santo, based on Jurong Shipyard’s proprietary Jurong Espadon drillship design.

The Jurong Espadon drillship will be capable of operating at 10,000 ft (3,048 m) water depth and drilling to depths of 40,000 ft (12,192 m).
The first unit is scheduled for delivery 48 months from now. The other units will follow thereafter.

The duration of the charter and service contracts for the three units is for a period of 15 years with a 5 year option.

Odfjell Drilling and Brazilian industrial group Galvão Engenharia have formed a joint venture with the aim to own and manage the three drillships and develop future opportunities in the Brazilian drilling market. The Odfjell Galvão joint venture is owned on a 50/50 basis and will have a 20 percent stake in the three drillships. Odfjell Galvão will be responsible for management of the vessels throughout the contract period.

Odfjell Drilling is currently operating the Deepsea Metro II also on a contract for Petrobras. Deepsea Metro II is an ultra deepwater drillship owned by Metrostar (60 percent) and Odfjell Drilling (40 percent) suitable for drilling operations at water depths up to 12 000 feet.

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