Petrobras seeks UMS for Espírito Santo

2/14/19

Petrobras will make a second reverse auction to charter a new UMS, this time aimed at hiring a unit to support the P-50  in the field of Albacora Leste, in the Campos Basin. The bid deadline was set for February 25.

The UMS will be contracted to operate with exclusive dedication to the project for a term of 90 days, with possibility of contractual extension for the same period. The flotel required by Petrobras requires accommodation capacity for 390 people and will operate connected to the UO-ES.

The winning company will have a term of 90 days after signing the contract to mobilize the UMS. The contract is expected to be signed in April, which, if confirmed, will determine that the unit will start operating in August.

Concerned to expand the number of offers, Petrobras reduced the technical specifications of the process, allowing interested companies to participate in the auction by offering units with DP2 dynamic positioning system. In most bids, the company requires DP3.

Offers on the table

Petrobras also conducts a tender to charter two UMSs for operation along the coast. Prosafe and OOS International presented the best bids, with daily rates of $ 73.16 thousand for Safe Eurus and $ 79.63 thousand for OOS Tiradentes, respectively.

The result has not yet been officialized by Petrobras. The bidding was conducted under the reverse auction model, marking the first process of contracting UMS made in this condition.

The flotilla charter term is three years. The total price of Prosafe was $ 80,117,600, while that of OOS International was $ 87,200,000.

The auction was also disputed by GranEnergia, Floatel, Posh, Edda, Chadong, Aquarius, Sendalyn and Teekay, which was disqualified for presenting the total amount in the bid.

In addition to Tiradentes, OOS International offered OOS Gretha. Prosafe also participated with two units, also offering Prosafe Vega.

Another company that quoted two UMSs was Posh, with Arcadia and Xanadu. Floatel and GranEnergia offered Victory and Olympia Venus, respectively. Teekay, Chandong, Aquarius and Sendalyn also offered one unit each.

The list of technical requirements of UMSs is large, and Prosafe and OOS will have to make small adjustments to meet Petrobras specifications, even though Safe Eurus is a new unit.

Petrobras has chosen to reduce the fuel franchise of the UMSs, which will likely cause the winning companies to pay for part of the fuel consumed in the operation.

The two UMSs will have to be ready for operation 150 days after the signing of the contracts. The equipment should be incorporated into the Petrobras fleet between August and September.

Scenario

After completing these bids, Petrobras should return to the market only in the second half to hire new UMS. It is expected that the oil company will seek at least two smaller flotillas, with capacity to accommodate between 250 and 300 people, in order to balance the fleet.

Petrobras currently has three chartered UMSs in its portfolio: OOS Tiradentes, whose charter contract expires in August, Prosafe Notos, under contract until 2020, and Posh Xanadu, with a short-term contract until August.

Source: Brazil Energy Magazine

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