Transocean forecasts growth of the drilling rig fleet in Brazil

 

Brazil may once again have a contracted fleet of offshore drill rigs of more than 40 units within the next two years, says Transocean CEO Jeremy Thigpen.

“If the [private oil companies] IOCs hire drilling rigs to drill their prospects and Petrobras continues to compete to contract contracts in the coming quarters, we expect to see a reversal of the decline in drill rig counts seen in the last four years,” he said during a conference with analysts.

Thigpen’s forecast is in line with Bassoe Offshore consultancy estimates that Petrobras will demand at least 30 units at the beginning of the next decade, while IOCs will need ten more units.

Thigpen added that the presence of IOCs in the country could generate a demand for higher specification assets, “which would be great for Transocean,” he said.

Petrobras currently has 23 rigs operating in Brazil, in addition to one abroad and three under renegotiation, with half of these contracts expected to close in the next eight months.

Transocean owns the Petrobras 10,000, which operates for Petrobras in the Gulf of Mexico and is expected to return to Brazil to begin a new contractual period a year from July.

In addition, the company operates the Transocean 706, whose charter by Petrobras is scheduled to close in October this year.

IOCs

Currently, in addition to Petrobras, only Statoil conducts an exploratory maritime campaign in Brazil, with Sebrail’s WestSaturn Rig. It is drilling an evaluation well in the Guanxuma discovery area, in block BM-S-8, in the Santos Basin.

Until the beginning of 2019, the expectation is that the French Total will begin a campaign in the field of Lapa, in the same basin. Shell in the Gato do Mato area and Chevron in the Frade field are among other private oil companies that are expected to demand floating rigs in 2019.

Source: Brazil Energy

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