Petrobras tenders for Mero with operation for December 2019

05/14/18

The Libra consortium last week launched a tender for chartering two deepwater rigs to the Mero field. The deadline for submission of proposals is 2 August. The surprise of the process was due to the start-up period of the units, set for December 2019 and not staggered from July this year. The market predicted the contract for July as the West Carina and West Tellus Seadrill contracts, which operate dedicated to the project, mature in June 2018 and June 2019, respectively.

The supply of units is limited for semisubmersibles and drill ships, not including monocolumns. The two rigs will have to be equipped with gravel dryer, and one of the units must have a pressure management system (MPD).

One of the rigs will be chartered for a year and a half, while the other will operate for two years. The units will act as a priority in the drilling campaign for the development wells.

Among the companies invited are Seadrill, Maersk, Pacific Drilling, Ocean Rig, Diamond and Queiroz Galvão Oil & Gas. The Libra consortium maintained the same position as Petrobras in the bidding of the anchored rigs, leaving out Transocean, Petroserv and Ensco.

Transocean is temporarily excluded from the list of companies invited due to an accident with one of its rigs chartered to the Brazilian oil company abroad. Ensco and Petroserv are not being called due to international arbitration and lawsuits that question the early termination of their contracts with Petrobras.

Change of plan

The change in the start date of the rigs was caused by the delay of the first two definitive systems of the field (Mero I and II), relocated from 2020 and 2021, to 2021 and 2022, respectively. With the change in schedule, the consortium will have more time to drill the development wells.

In practice, under this new arrangement, Libra will cross part of the years 2018 and 2019 only with West Tellus, remaining about six months without drilling activity. The stakes are that the consortium opts to leave Tellus operating in the last months of its exploratory contract.

To date, 12 wells have been drilled in the Libra area. The West Carina and West Tellus drill rigs should drill together about four to six wells by the end of their contracts.

Source: Brazil Energy

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