Ocyan Sells 100% of Its Two Shares Privately to a Select Group of National and Foreign Companies; Winning Bidder Will Take Over Turnkey Offshore Drilling, Production, Construction, and Maintenance Services

Written by Flavia Marinho

Published on 20/10/2022 at 19:56

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Winner Company Will Take Over Offshore Drilling, Production, Subsea Construction And Maintenance Services Of Ocyan

According to a document exclusively obtained by sources from PetróleoHoje, in a confidential manner, Novonor (formerly Odebrecht) opened a sales teaser for the entirety of Ocyan’s shares, leaving the controlling stake of the company, its arm in the oil and gas area, which operates in the segments of drilling, FPSO, maintenance, and subsea.

The winning company will take over Ocyan completely, that is, the offshore drilling, production, subsea construction, and maintenance services.

According to sources, the submission of non-binding proposals for the Berlin Project, as the deal is called, is expected to be received within a month.

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Executives Consulted By PetróleoHoje Consider That The Entire Sale Of Ocyan May Not Be An Easy Operation

As the submission of non-binding proposals will only occur between November and December, the sale operation will extend into 2023. The most likely scenario is that the deal will not be finalized before the end of the first half of next year.

Executives consulted by PetróleoHoje believe that the entire sale of Ocyan may not be an easy operation to facilitate due to the fact that the company operates across three distinct business fronts. There is uncertainty about whether there will be competition for the operation, considering that the buyer will need to acquire the controlling stake of the company while maintaining a diversified activity.

Depending on the market’s response to the teaser, the Novonor and BNDES may evaluate the possibility of unfolding the operation.

Ocyan Has Operating, Drilling And Maintenance Contracts With Oil Companies Like Petrobras, Karoon, Among Others

Currently, Ocyan holds a 50% stake in two FPSOs, namely the Pioneiro de Libra, in operation for Petrobras, and the Cidade de Itajaí, in production at the Baúna field, for Karoon.

Ocyan maintains a drilling contract for the chartering of four drill ships (Norbe VIII, Norbe IX, ODN I, and ODN II) and one semi-submersible, the Norbe VI. These units are no longer part of the company’s asset portfolio.

Additionally, the package includes more than 15 service contracts involving Subsea and Maintenance activities, as well as the Macaé base and all machinery and tools.

Ocyan expects to generate revenue with Petrobras from new chartering contracts for three rigs. If confirmed, these deals will secure new chartering contracts for a period of 3 years.

by – PetróleoHoje

Ocyan Sells 100% of Its Two Shares Privately to a Select Group of National and Foreign Companies; Winning Bidder Will Take Over Turnkey Offshore Drilling, Production, Construction, and Maintenance Services

Winner Company Will Take Over Offshore Drilling, Production, Subsea Construction And Maintenance Services Of Ocyan

Executives Consulted By PetróleoHoje Consider That The Entire Sale Of Ocyan May Not Be An Easy Operation

Ocyan Has Operating, Drilling And Maintenance Contracts With Oil Companies Like Petrobras, Karoon, Among Others

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Ocyan Sells 100% of Its Two Shares Privately to a Select Group of National and Foreign Companies; Winning Bidder Will Take Over Turnkey Offshore Drilling, Production, Construction, and Maintenance Services

Winner Company Will Take Over Offshore Drilling, Production, Subsea Construction And Maintenance Services Of Ocyan

Executives Consulted By PetróleoHoje Consider That The Entire Sale Of Ocyan May Not Be An Easy Operation

Ocyan Has Operating, Drilling And Maintenance Contracts With Oil Companies Like Petrobras, Karoon, Among Others

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

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