Petrobras and Sevan sign firm drilling contract
2008.08.05 -
Contracts
Petrobras SA and a subsidiary of Sevan Drilling AS, have signed a firm drilling contract for a newbuild drilling unit intended for operations off the coast of Brasil, in water depths down to 2,400 m. This is the second deepwater drilling unit contracted to Petrobras, and the third deepwater drilling unit to be built, owned and operated by Sevan Drilling, as the company also signed a drilling contract with India's ONGC in June 2008.
The drilling contract will have a fixed term of six years with start-up by end-2011. Revenues which could be generated over the six year period are approximately USD 975 million, including a bonus arrangement and mobilization fee.
Sevan has awarded a letter of intent (LOI) to the Cosco Shipyard Group for a turnkey contract comprising the construction, equipment procurement and installation, and commissioning of the drilling unit. Cosco shall also provide yard financing. Aker Kvaerner MH has been awarded an LOI for delivery of the drilling package. Also the delivery of other long lead equipment has been secured.
The newbuild drilling unit to Petrobras is based on Sevan's proprietary cylindrical Sevan 650 design, as is the case also for the two other Sevan drilling units. All three Sevan deepwater drilling units are built at the same shipyard and utilize the same drilling package, thus significantly reducing risks to schedule and cost.
Cameron (NYSE: CAM) has signed a three-year worldwide preferred supplier agreement with Schlumberger Integrated Project Management (IPM) for the supply of a wide range of flow equipment products and services. As part of the agreement, Cameron will provide Schlumberger IPM with all surface, subsea, drilling, measurement, compression and downstream equipment on a worldwide basis.
ClampOn has been awarded a contract for delivery of five subsea ClampOn DSP Leak Monitors to the Tampen Link project in the Norwegian sector in the North Sea (Sept 07). ClampOn will supply its ultrasonic non-intrusive acoustic Leak Monitors to Technip Norge AS on behalf of Statoil. The Leak Monitors will be retrofitted on two 20” gas valves on the seabed to verify/disprove through-valve gas leakage. These valves are currently open and they will be shut to close off the bypass alternative.
Helix Energy Solutions (NYSE: HLX) announced today that it has received a Letter of Intent ("LOI") for the installation of the subsea infrastructure for the VIC/P44 Stage 2 Development project in the Otway Basin offshore Australia. Participants in the VIC/P44 permit are Santos Limited (Operator) 50%, Peedamullah Petroleum Pty Ltd (Australian Worldwide Exploration) 25% and Mitsui E&P Australia Pty Ltd. 25%.
Velosi Limited Velosi or the Group, a provider of asset integrity and HSE services to a number of major national and multinational oil and gas companies, is pleased to announce that it has been re-awarded a contract from Mobil Producing Nigeria, for the next three years with an option to extend for a further one year.
Fugro has been awarded a contract to perform a detailed marine survey in the Mediterranean Sea to select the best route for the GALSI gas pipeline from Algeria to Southern Sardinia and then from Northern Sardinia to the mainland of Italy. The contract value is approximately EUR 18 million.
