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Ocyan offers 100% of the two shares for sale in a reserved manner to a select group of national and foreign companies; winner of the dispute will take over offshore drilling, production, construction and maintenance services behind closed doors

Written by Flavia Marinho
Published 20/10/2022 às 19:56
ocyan - petrobras - contracts - FPSO - karoon - maintenance - drilling - subsea - production - Macaé
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The winning company will take over Ocyan's offshore drilling, production, subsea construction and maintenance services businesses behind closed doors

According to a document obtained exclusively by PetróleoToday sources, privately, Novonor (formerly Odebrecht) opened a teaser for the sale of all Ocyan shares, leaving the shareholding control of companya, its arm in the oil and gas area, which operates in the drilling, FPSO, maintenance and subsea segments.

The company that wins the dispute will take over Ocyan behind closed doors, that is, the offshore drilling, production, underwater construction and maintenance services business.

Also according to the sources, the delivery of non-binding proposals for the Berlin Project, as the deal was called, is expected to be received within a month.

The teaser of the process, which at first was released without mentioning the name of Ocyan, was sent to a select group of national and foreign companies. And according to PetróleoHoje sources, some groups have already signaled interest in the operation. 

The sales document only contained information about the line of business and the assets involved in the operation, in addition to market information.

Executives consulted by OilToday consider that the full sale of Ocyan may not be an easy operation

As the delivery of non-firm proposals will only take place between November and December, the sale operation will extend through 2023. The most likely thing is that the deal will not be finalized before the end of the first half of next year.

Executives consulted by OilToday consider that the full sale of Ocyan may not be an easy operation to be carried out due to the fact that the company operates between three different business fronts. There is uncertainty as to whether there will be a dispute over the operation, given that the buyer will have to acquire the company's shareholding control, maintaining a diversified activity. 

Depending on the market's response to the teaser, the possibility of the Novonor and BNDES evaluate the possibility of expanding the operation.

Ocyan has operation, drilling and maintenance contracts with oil companies such as Petrobras, Karron, among others

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

In the drilling area, Ocyan maintains a charter contract for four drillships (Norbe VIII, Norbe, IX, ODN I and ODN II) and a semi-submersible, Norbe VI. The units are no longer part of the company's asset portfolio.

In addition, more than 15 service contracts are part of the package, involving Subsea and Maintenance activities, in addition to the Macaé base and all machinery and tools.

Ocyan is looking forward to billing with Petrobras, new charter contracts for three rigs. If confirmed, the deals will secure new charter contracts for a period of 3 years.

por- OilToday

Flavia Marinho

Flavia Marinho is a postgraduate engineer with extensive experience in the onshore and offshore shipbuilding industry. In recent years, she has dedicated herself to writing articles for news websites in the areas of industry, oil and gas, energy, shipbuilding, geopolitics, jobs and courses. Contact her for suggestions, job openings or advertising on our portal.

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