Ocean Rig signs Mero contracts

3/8/19

Petrobras and Ocean Rig will sign this week the charter and service contracts of the Deepwater Mikonos and Deepwater Corcovado drill ships, which will operate exclusively in the Mero field in the Santos Basin. The contract was approved by Shell, Total, CNPC, CNOOC and PPSA, members of the Libra consortium, last Friday (28/2).

The signature is being made electronically, leaving only the signature of one more representative of Petrobras.

The contracts will be closed three months after the drilling company presented the best prices in the tender launched by Petrobras in May last year. The daily rate for the Deepwater Mikonos rig, which will operate with MPD (Managed Pressure Drilling), was $ 235,000, while Deepwater Corcovado was $ 215,000.

Acquired by Transocean at the end of 2018, Ocean Rig competed with Seadril, Pacific Drilling, Ensco and Maersk. Deepwater Mikonos and Deepwater Corcovado will begin operations in November, drilling Mero phase 1 development wells.

The units will be brought to Brazil between September and October. At the moment, the rigs are in Las Palmas, undergoing works of adaptation to meet the contractual requirements of Petrobras.

Both operated for Petrobras until May 2018, exclusively on the BM-S-11 project, where the Lula field is located in the Santos cluster. After the campaign, the equipment entered a regime of hot stack in the Canary Islands.

With the new contracts, the Transocean-Ocean Rig group will now have three deepwater rigs operating in Brazil. Today, the group maintains in the country only Petrobras 10,000, which has a contract with Petrobras until 2020.

Deepwater Mikonos will be chartered for the long term of 550 days, with a renewal option for 815 days. The Deepwater Corcovado will be chartered for 629 days, with optional 680 days.

Source: Brazil Energy Magazine

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