OMV Petrom has contracted the Transocean Barents for work in Romania’s Black Sea, at a rate around $100,000 per day higher than its current price.
Transocean said the harsh environment semisubmersible would go to work for OMV for at least 540 days. It set the rate at $465,000 per day, excluding additional services.
OMV will use the semisub for work on Romania’s Neptun Deep project, which it approved in June this year. The 4 billion euro ($4.3bn) project is expected to start producing gas in 2027.
The rig is currently under contract to Eni, from October to January 2024, for $370,000 per day. The semisubmersible is working off Cyprus, having completed work for TotalEnergies in Lebanon. While working for the French company, it commanded a $365,000 day rate.
Transocean said the programme would begin in the first quarter of 2025 and provide $251 million in backlog, excluding full compensation for mobilisation and demobilisation.
Should OMV choose to retain the rig beyond the initial 540 days, the day rate increases to $480,000.
TotalEnergies has an option to keep the rig beyond January. It has two options, which could see the unit in service until June 2024 in the East Mediterranean.
OMV is working on the Neptun Deep project with Romgaz. It aims to produce around 100 billion cubic metres of gas, with production of around 8 bcm per year, for 10 years, at plateau. The block holds two gas fields, Domino and Pelican South.
The project will require 10 wells and three subsea production systems. A gas pipeline will run to Tuzla.
OMV took over the role of operation in 2022, following the sale of ExxonMobil’s stake to Romgaz.
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