Petrobras evaluates sale of deepwater drill ship Vitoria 10,000

03/03/19

If confirmed, the study will mark the first disposal of deepwater equipment by the oil company.

Petrobras plans to sell the Vitoria 10,000 deepwater drill ship, which was operated by the former Schahin – renamed Base – and was the subject of a lengthy legal process between the two companies.

The divestiture of the drill ship is being discussed by the high management of the company including with the division of ​​Supply of Goods and Services. According to sources, it is practically certain that the operation will be done via bidding process in for the second quarter.

The technical area of ​​Petrobras evaluates two strategies for conducting the business, one foreseeing only the isolated sale of the drill ship and another guaranteeing the buyer a charter contract.

The analysis takes into account the demand for drill ships and the attractiveness of the process. The tendency is for the sale to occur in association with a charter contract.

With capacity to operate in a water depth of 3 thousand mts, the Vitória 10,000 has been idle for some years in the Campos Basin, near the Badejo field,  warm stacked by a team of Petrobras. Experts estimate that the investment needed to get the unit up and running again would be around $ 50 million.

With weak market and several deill ship with no contracts, the attractiveness of the business, according to industry executives, is linked to the guarantee of a charter contract. The interest for the business tends to be proportional to the contract term and the daily rate value.

The unit started operating for Petrobras in 2011, and in the last few years it has worked with exclusive dedication to the Sapinhoá area, in the Santos Basin.

Bidding in progress

While discussing the sale of the drilling ship, Petrobras has launched a tender to contract operational support services for Vitoria 10,000 or other drilling units – operated or not by the oil company – off the Brazilian coast. The delivery of proposals is scheduled for March 29.

The scope of the service provides for the operation of vessels, cargo handling, offshore material control, equipment maintenance, communications system operation and underwater BOP, salvage and operational (administrative) support, among other services. In practice, Petrobras seeks to ensure unit maintenance service.

This is not the first time that Petrobras has tried to hire a drilling company to service the Vitoria 10,000. About three years ago, a tender was launched for this purpose, but the process was not completed.

On that occasion, Petrobras conducted two rounds of negotiations with more than one company, without success in any of the processes.

The new bidding is being conducted by the Petronect system.

Source: Brazil Energy Magazine

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