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Despite the economic crisis resulting from the coronavirus pandemic, Anglo-Dutch Shell and its partners decided to keep US $ 700 million in investments to set up a thermoelectric plant powered by natural gas from the pre-salt layer in Macaé, in the North of the State of Rio de Janeiro.
The plant will have a capacity of 565 MW, enough to meet the energy consumption of two million people, and will start delivering energy as of January 1, 2023. The works begin this month.
Marlim Azul will be the first plant to use the natural gas produced in the pre-salt fields. The fuel will be supplied by Shell, which, with the venture, makes its debut in the generation of electricity in the country.
The company responsible for the project is Arke Energia, formed by Pátria Investimentos (controlling shareholder, with 51%), Shell (with 29%) and Mitsubishi (with 20%).
The investment includes the construction of the thermoelectric plant, a 22-kilometer gas pipeline to connect the gas terminal (Terminal de Cabiúnas) to the plant and a transmission line.
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Equipment import
The commercial director of Shell Brasil, Guilherme Perdigão, said he believed that the economy would recover and, therefore, decided to keep the pace of the works. The company has contracts with 26 distributors to deliver energy as of January 1, 2023.
Perdigão stated, however, that carrying out the works in times of pandemic brought a series of challenges, such as importing equipment from China and India and developing the engineering project remotely with professionals in Brazil, Japan and Spain, among others. others.
– We understand that this energy consumption (for 2023) will happen. By then, the country will have time to recover. We are seeking to be disciplined in maintaining the schedule in order to honor the delivery of energy as of January 2023. It is clear that the pandemic brought a series of challenges, but we are managing to keep the schedule so far – said Perdigão.
In Arke Energia’s assessment, “short-term consumption drops do not alter long-term planning”. Arke also stressed the importance of respecting the construction schedule, at the risk of not meeting the deadline for the delivery of energy. For the company, it is better to invest in times of crisis, when cash is available.
The Shell director explained that security protocols will be adopted to prevent contagion from Covid-19. The recruitment of personnel will start in the second half of this month, but the initial number of workers will still be small, and should reach around 150 by the end of the year. The expectation is to reach 1,500 workers at the peak of the works, between 2021 and 2022.
The partnership between the multinationals provides for the development of the plant and the sale of energy, both in the captive market, through an auction that was held by the National Electric Energy Agency (Aneel), in December 2017, as well as in the free market through Shell Energy Brasil.
Source: Brazil Energy Insight
Valaris Limited announced new contracts awarded subsequent to issuing the Company’s most recent fleet status report on February 21, 2023. Three-year contract with Petrobras for drillship VALARIS DS-8. The rig will be reactivated for this contract. The total contract value is approximately $500 million, including a $30 million mobilization fee. 100-day contract with a TotalEnergies affiliate for drillship VALARIS DS-12. The contract is expected to commence in second quarter 2023. 70-day contract with Beach Energy offshore New Zealand for heavy duty modern jackup VALARIS 107. The contract is expected to commence in third quarter 2023. The total contract value is approximately $26 million. President and Chief Executive Officer Anton Dibowitz said, “We are particularly pleased to have secured the award for preservation stacked drillship VALARIS DS-8, for a contract that is expected to generate a meaningful return over the firm contract term, and we remain focused on exercising our operational leverage in a disciplined manner. This most recent award represents the sixth contract awarded to one of our high-quality stacked floaters since mid-2021, and speaks volumes about our demonstrated track record of project execution when reactivating rigs.” Dibowitz added, “Following the reactivation of VALARIS DS-17 and DS-8, we will have ten floaters working across the golden triangle, including four drillships in Brazil, a market where we expect to see continued growth over the next several years.” Updated Guidance As a result of the contract awarded to VALARIS DS-8, which will require the rig to be reactivated from preservation stack, we are updating our first quarter 2023 and full-year 2023 guidance provided on our fourth quarter 2022 conference call on February 21, 2023. First Quarter 2023 Contract drilling expense is expected to increase by approximately $5 million to $385 million to $395 million. Adjusted EBITDA is expected to decrease by approximately $5 million to negative $5 million to breakeven. Adjusted EBITDAR, which adds back one-time reactivation expense, is expected to be $25 million to $30 million, unchanged from the guidance provided on our fourth quarter 2022 conference call. Full-Year 2023 Revenues are anticipated to be $1.8 billion to $1.9 billion, unchanged from the guidance provided on our fourth quarter 2022 conference call. Contract drilling expense is expected to increase by approximately $60 million to $1.49 billion to $1.59 billion. Adjusted EBITDA is expected to decrease by approximately $60 million to $180 million to $220 million. Adjusted EBITDAR, which adds back one-time reactivation expense, is expected to be $280 million to $320 million, unchanged from the guidance provided on our fourth quarter 2022 conference call. Capital expenditures are expected to increase by $60 million to $320 million to $360 million. Source: Valaris Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here
Seadrill Limited announced that the West Neptune has executed approximately six months of term extensions with LLOG Exploration Offshore, L.L.C in the US Gulf of Mexico. The extensions will commence in direct continuation of the existing term, and will keep the rig busy until Q3 2024, furthering Seadrill and LLOG’s long-term association. Total contract value for the extension is approximately $79 million. Source: Seadrill Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here
Semisub rig owner Dolphin Drilling has inked a new contract with Peak Petroleum in Nigeria for its 1974-built Blackford Dolphin. The firm contract, which follows the letter of award in January, gives the Euronext Growth-listed owner of three rigs the potential to extend the unit’s backlog by a minimum of 120 days and up to 485 days. The deal adds to and will be a direct continuation of the previously announced 12-month contract with General Hydrocarbon Limited (GHL). Øystein Stray Spetalen-backed company said the effective dayrate associated with the minimum firm period of the contract is $325,000, including the mobilisation fee. “The final award of the contract for Blackford Dolphin shows the opportunities in Nigeria at a strong dayrate, in addition to building on the backlog for the rig. It also underlines the attractiveness of our assets, and we look forward to returning to revenue-generating operations in 2023,” noted Bjørnar Iversen, CEO of Dolphin Drilling. Source: Dolphin Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here
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