JAPANESE shipbuilding/engineering, together with ship-owning and drilling interests, are forging a consortium to build and supply drilling rigs to Petrobras, of Brazil, as it urgently needs a large number of such units to pursue its ultra-deepwater exploration and production ambitions.
The Nikkei Business Daily has reported that shipping companies Nippon Yusen KK and Kawasaki Kisen Kaisha have already teamed up with Mitsui & Co and Japan Drilling Co to buy a combined 76.5% stake in the leasing business of an unnamed Brazilian firm for about $173million.
Nippon Yusen is to hold 33.7%, Mitsui 21.8%, Kawasaki 20% and Japan Drilling 1%.
The consortium has apparently already placed an $800million order with a South Korean shipbuilder for a 3,000m (10,000ft)-capability deepwater mobile drilling unit and that this will go on hire to Petrobras for 20 years, starting in 2012.
Nippon Yusen and Kawasaki Kisen will consider expanding leasing operations by acquiring more mobile offshore drilling units, the Japanese paper said, adding that they also aim to use this business as a springboard to start transporting crude oil from Brazil and elsewhere.
There are only 20 drillships in the world that are capable of drilling in sectors such as Brazil’s Espirito Santo pre-salt play and the view is that at least another 20 will be needed as the deepwater plays in West Africa, such as block 31 Angola, and the Gulf of Mexico are opened up.
Indeed, Petrobras has just struck a deal with ExxonMobil and Seadrill to take over control of the drillship, West Polaris, as it needs the additional deepwater drilling capability to carry out planned pre-salt work.
West Polaris was previously drilling for ExxonMobil on block BM-S-22 on the Azulao and Guarani prospects.
Petrobras has already reached similar arrangements with Repsol and Anadarko to bring in their contracted rigs.
It is reported that these rigs and another four, if they can be found, are to carry out completion studies on the giant Tupi field discovery, as well as tackling other drilling targets in the Santos Basin.