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GranIHC, Ocyan and Sisnergy will sign contracts with Petrobras for maintenance and integrity services of 19 platforms in the Campos Basin. The deal is the result of the oil company’s mega-bid, divided into four lots, the total value of which is R$ 1.97 billion. The signing of contracts should take place this week.
GranIHC will be responsible for two contracts, ensuring lots 1 and 4, the largest in the tender, while Ocyan will take package 2 after a turnaround marked by the disqualification of two other participants. Sisnergy, a company of the French group Vinci Energies, has the lot 3 contract.
Petrobras has already approved internally the contracting of the three companies. The forecast for the beginning of the execution of the services is foreseen for December.
Together, the two GranIHC packages will account for 60% of the total value of Petrobras’ business, worth R$1.2 billion. The contract for lot 1 will be signed for BRL 621.26 million, compared to the amount of BRL 579.25 million for lot 4.
Lot 1 service will be directed to platforms P-18, P-19, P20, P-35, P-43, P-47, P-48, P-61 and P-63. The scope of lot 4 will be opened, without pre-fixing any unit.
In the case of GranIHC, in the future, part of the scope of lot 1 will be deployed to 3R Petroleum, since platforms P-61 and P-63 are located in the Papa-Terra field, an asset that has already been sold to the medium oil company postage.
Sisnergy’s contract will for R$592.25 million. Directed to lot 3, the service will include activities on P-38, P-40, P-51, P-53 and P-56.
The lot 2 contract with Ocyan will be for R$ 184.72 million. The work will include services at units P-9, P-26, P-32, P-33 and P-37.
Ocyan’s victory in lot 2 was assured after Petrobras did not qualify Multiplos Estaleiros do Brasil and Petrojato Maintenance, companies that presented the two best bids. GranIHC also had the third best bid in the auction, but ended up disqualified by the rules of the notice, which allowed each company to auction a maximum of two lots.
The contracts will have a term of three years, with the possibility of extension for another two years. The mobilization period will be 90 days, counting from the date of signature of the contracts.
The contracts will involve current maintenance services, production stoppage, operation support and other services. It is estimated that the four contracts will mobilize around 2,000 workers.
The bidding was carried out under the reverse auction model, attracting a large number of companies. Among the groups that participated were Ocyan, Heftos, CRS, Multiple Shipyards, Mota-Gil, WM Maintenance and Repairs, Method Engineering, AAS Júnior and Engeman. The most disputed lot in the process was 3, which attracted 18 companies.
The units involved in the four contracts are installed in the Marlim Sul, Marlim Leste, Marlim, Viola, Barracuda-Caratinga, Papa-Terra and Corvina fields. A group of project platforms are part of Petrobras’ decommissioning program.
The maintenance and integrity contracts for lots 1, 2 and 3 are formatted under the construction and assembly model, in which the teams of the winning companies will be on board in the units listed in the scope. In lot 4, the campaign will involve the use of a flotel from the Petrobras fleet.
The commercial proposals for the tender had been analyzed by Petrobras since May. The bid was launched about a year ago.
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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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