BRAZIL’S Petrobras has booked 22 years’ worth of work with Transocean that will soak up four of the US group’s rigs and bring in revenues estimated at some $3billion. And it has won a further $1billion of work in the US Gulf of Mexico. Rigs to go on long-term hire to Petrobras are the Sedco 707, Sedco 710, Deepwater Navigator and Transocean Driller.
Sedco 70 is a dynamically positioned semi-submersible rig capable of operating in water depths to 2,000m, has a five-year term which is expected to start in December, 2009, following the completion of the rig’s current contract commitments. Estimated revenues that could be generated over the five-year contract period are about $841million.
Deepwater Navigator is a dynamically positioned drillship capable of operating in water depths to 2,000m and has a five-year term which is expected to start March, 2011. Estimated revenues that could be generated over the five-year contract period are about $801million.
Sedco 710 is a dynamically positioned semi-submersible rig capable of operating in water depths to 1,200m; it has a six-year term which is expected to commence in November, 2010. Estimated revenues will be about $730million.
Transocean Driller, a moored semi-submersible rig capable of operating in water depths to 1,050m, has a six-year term which is expected to commence in August, 2010, following the completion of the rig’s current contract commitment. Estimated revenues that could be generated are in the order of $680million.
The Petrobras work is not the only big win to be announced as the deepwater drillship, Deepwater Pathfinder, which is capable of drilling in water depths to 3,048m (10,000ft), has been awarded a five-year contract by a subsidiary of Eni for drilling operations primarily in the US Gulf of Mexico.
That contract is scheduled to kick in during March, 2010. Estimated contract revenues that could be generated over the five-year contract period are about $1.19billion.