Brazilian company signs MOU with Chinese shipyard to bring offshore rigs to the country

06/20/18

Brazilian Petrodin Offshore has signed a memorandum of understanding with Shangai Shipyard on May 22, which provides for the purchase or leasing of three anchored rigs. The company intends to compete in Brazil, West Africa and in the future in Argentina to make the operation viable. Each rig – the Tiger 2, 3 and 4 – is valued at U$ 200 million and should be ready by 2019.

The rigs are equipped with a bank of batteries that supply the demand for energy in the peak moments of the operations. The system allows them to work with a smaller number of fuel generators, providing a 30% reduction in diesel consumption and a proportional reduction in pollutant emissions. The operating cost is 1/3 lower than a similar one with diesel engine generators.

The units are designed for shallow water projects, between 130 m and 400 m. Petrodin CEO Mats Rosengren believes this is a very promising market. The company is concluding a study in which it has already been able to identify that most of the depth-based rigs were built in the 1970s and 1980s, many of which are already in cold stack.

Newer rigs aimed at this depth range are hybrid – they can be docked or with dynamic positioning. In general, they were built to work in the North Sea, where the conditions are quite adverse, and can cost up to three times more.

These units can work at depths of up to 1,500 m, but in this case they compete with dynamic positioning rigs. In the range between 130 m and 400 m, the company estimates there are few units available in the world.

In Brazil, the operator identifies opportunities in the North and Northeast regions and shallow water projects in the Santos and Campos Basin six months a year. The focus is projects awarded to oil companies in the last ten years and which still have existing drilling commitments. Other possibilities are works related to the abandonment of wells.

Abroad, the company is negotiating the charter of a unit with a customer in Nigeria of undisclosed name. In Argentina, the focus is on drilling projects in the coming years from areas that will be auctioned at the end of this year.

The ABS class rigs are equipped with five diesel engines with 2,580 kWe each, 7,500 psi high pressure drilling mud system, 15,000 PSI BOP and 12,000 t variable load capacity.

Rosengren says that while Brazil is focusing on expanding its exploration area into deepwater projects, there is still plenty of room for shallow water exploration. He cites a number in which 64% of the world’s oil is in areas in that depth range.

Another bet is the increasing concern of operators with the reduction of emissions. The executive quotes Equinor, who has emphasized the theme in its projects. “The drilling area is still quite conservative, but in the face of these new demands, it is inevitable that shipowners take such innovations into account. We want to be there, “he said.

Source: Brazil Energy

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