Drillships Are Offered for Ongoing Development in the Santos Basin on Demand from Petrobras, Constellation May Present the Best Proposal
Petrobras received proposals from contractors that met the demand for a drillship in ultra-deep waters, necessary to continue the drilling development in the BM-S-11 concession area in the Santos Basin, where the gigantic Lula pre-salt is located. Market sources suggested that Constellation Oil Services, formerly known as Queiroz Galvão Oil & Gas, could emerge with the lowest bid, even forecasting a daily rate of around US$ 180,000.
The units listed include the drillship Laguna Star, which completed its contract with Petrobras at the end of last year but remains fully mobilized, under any demand from Queiroz Galvão E & P (QGEP).
QGEP will primarily use the Laguna Star to drill a third development well for an initial production system in the Atlanta development in the Santos Basin and carry out intervention work in the same area, but QGEP expects this work to be completed in July or August.
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Alternatively, Constellation may offer the drillship Amaralina Star, currently on standby in Guanabara Bay, Rio de Janeiro.
However, some rival bidders have questioned whether Constellation’s financial challenges could impact the competition, as the drilling contractor is currently in negotiations with creditors to restructure its debt as part of a judicial recovery process.
Other drillers in Petrobras’s bidding frame include Pacific Drilling, which could bring the drillship Pacific Mistral, from Samsung 10000, to Brazil, or offer another unit such as the drillship Pacific Bora.
Pacific was among the competitors in the recent bidding for two platforms to be used in the Mero pre-salt field, operated by Petrobras.
As previously reported, Ocean Rig, now part of Transocean, came out on top in the Mero platform bid, offering the drillships Ocean Rig Mykonos and Ocean Rig Corcovado at estimated rates of just below $300,000 each.
Sources said that Ensco, Transocean, Seadrill, and Petroserv are also on the contract frame for the BM-S-11 drillship. Ensco bid with the drillship Ensco DS-11, Transocean proposed the drillship Ocean Rig Apollo, while Brazilian company Petroserv would have offered the drillship Carolina, with Seadrill being the only company offering dual activity drilling on its proposed platforms.
The dual activity capability earns a bonus under the bidding rules, meaning Seadrill could come from behind if the price difference is close enough.
The drillship West Tellus will start its contract in the Mero field in October. The drillship West Carina, which was also contracted by Petrobras for the same project until last year, is also available.
The BM-S-11 drillship tender has been postponed several times, and the maximum start date has also returned to the end of August. Petrobras is offering a two-year renewable contract.
A technical analysis period will now take place, with commercial bids likely to be opened in four to six weeks. However, the date for another Petrobras bidding has been postponed by another week to January 28.
This tender provides for the use of one or more platforms capable of operating at depths of up to 2000 meters in unspecified Brazilian locations.

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