Petrobras postpones tender for charter of drill rig for the so called “pool”

1/28/19/19

Petrobras postponed to February 4 the date of delivery of the proposals of the bid for the charter of drill rig for the so-called pool, with capacity to operate in water depth of 2 thousand m. The deadline was scheduled for January 28, but the bidding committee postponed the date again shortly after it had granted another extension of term.

The postponement strategy is directly related to the drill rig tender for the BM-S-11 area, currently underway. Apparently, Petrobras wants to first complete the classification of the BM-S-11 rig before receiving the pool tender proposals.

Thus, the strategy would prevent well classified rig in the bidding for the Santos Basin project to be offered in the pool competition. This theoretically could encourage companies that did not have good placement in the previous tender to present lower prices in an attempt to secure a contract.

The pool

Scheduled to start a contract in September, the so-called pool drill rig will operate along the coast, with no set lease, and can drill in any offshore basin. The contract has two options for charter term, one with 365 firm days plus 365 optional days to be agreed by the two parties and another with 730 firm days. However, Petrobras has the option to terminate the contract after 365 days, provided that it communicates the decision three months in advance.

As the rig’s technical requirements are more lenient, the idea is that the bidding will attract a larger number of interested companies. The bid notice was issued last year, before the entry into force of the State Law, which changed the way Petrobras contracts.

Source: Brasil Energia

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