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The Operation Contract Between the Companies Ocyan and PRIO Allows the Use of the West Capricorn Rig for 730 Days. During the Project, the Expectation is That Many Job Opportunities Will Be Offered.
The activities of the contract signed between PRIO and Ocyan are scheduled for August 2023 and for this contract to be put into practice, 160 offshore job opportunities are expected. Currently, the West Capricorn rig is located in Trinidad & Tobago and will only be reactivated when it arrives in Brazil. The rig was built in 2011 and is a sixth-generation semi-submersible drilling platform.
The PRIO West Capricorn Rig and Its Achievements
It is worth remembering that PRIO announced last June the acquisition of this rig from Aquadrill LLC, formalizing the purchase for a total of US $40 million.
Initially, PRIO had already disbursed US $1 million for the exclusivity of the rig, but in the week of June 7, an additional US $4 million was paid, which further confirmed the Brazilian company’s interest in the platform.
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The rig, considered state-of-the-art, is suitable for both subsea services and drilling in water depths from 80 meters to three thousand meters. Its model is hybrid and features a dynamic positioning system and anchoring.
Ocyan’s Relationship with Brazil
Ocyan has a long-standing connection with Brazil, having been operating with the Norbe VI rig for PRIO since July 2021, in a contract that runs until August this year.
Last year, both companies negotiated the operation of the West Capricorn for about two months. The oil company kept in touch with other firms, but business went better with the Brazilian group.
The rig will initially be allocated to the Albacora Leste project, but may be used in any PRIO project such as Wahoo, Tubarão Martelo, and Frade.
The Executive Vice President of Ocyan’s drilling unit, Heitor Gioppo, expresses satisfaction with the alliance between both companies and states that it is an important milestone, as it shows recognition of the company’s technical capacity and generates business in the operation of third-party assets:
“Winning this contract also reinforces our company’s strategic position with independent operators in the drilling area, especially in the domestic market. We can say that our management system has become a benchmark because it is becoming more robust every day. We will work with technology transfer while deploying a highly specialized team. We can say that this is another step towards opening the market for new actions by Ocyan. We remain attentive to opportunities, including new business in third-party assets in Brazil and abroad,” concluded the vice president.
Learn More About Ocyan and PRIO
Ocyan is a company that provides solutions for the upstream offshore oil and gas industry in a sustainable manner.
PRIO (formerly PetroRio) is a publicly traded Brazilian company, primarily focused on oil and gas production. The company also engages in the production, exploration, commercialization, and transportation of oil and natural gas. Currently, PRIO is the largest private oil company in Brazil, with a net profit of US $141.3 million.
