On resumption, Odebrecht charters 1st rig to Petrobras after Lava Jato

Petrobras signed a charter contract with Ocyan, formerly known as Odebrecht Oil and Gas, and two other companies

According to the president of Ocyan, formerly called Odebrecht Oil and Gas, it chartered a drilling rig to Petrobras. The contract signed between the companies lasts for two years. This was the first negotiation between the companies since the start of the Lava Jato operation, five years ago.

According to Roberto Simões, in addition to Ocyan the other two companies that won the competition opened by Petrobras were Constellation Oil Services Holding, with three rigs, and Petroserv, with two units. Simões declined to go into detail about the amounts.

“The moment you have the company operating as it is, all the assets are now very well evaluated by the client, and in addition to winning the contract, the resumption cycle is closing with a golden key.” highlighted Simões. Other bids for new platforms by Petrobras are also on Ocyan's radar.

According to Simões, the contracted vessel, called Norbe VI, is a semi-submersible drilling platform and will be used in activities in the Campos and Santos Basins and should start work in the last quarter of this year. The company has another five drilling rigs already contracted by Petrobras, in deals prior to Lava Jato.

The company operates together with Teekay, the FPSO – Cidade de Itajaí, which produces oil in the Baúna field, in the shallow waters of the Santos Basin. The field was sold last week by Petrobras to the Australian Karoon. According to the CEO of Karoon, it intends to increase production in Baúna by 60% by 2022, being an important occasion for Ocyan to seek to extend the contract for the platform, expected to expire in 2022, said Simões.

Ocyan is also attentive to another Karoon asset, the Neon field, near Baúna, in the Santos Basin, where Simões expects the Australian company to launch a tender soon to hire an FPSO. Karoon expects to start production in the new field in 2023.

Ocyan plans to participate in a tender to supply an FPSO for the Brazilian company Enauta, formerly Queiroz Galvão Exploração e Produção (QGEP), for the Atlanta field, also in Santos, which Simões expects to be launched by the end of this year.

The company also expects to compete in an auction to supply an FPSO to Shell, in the Gato do Mato area, in the Santos Basin.

The next company to be sold by Petrobras in the midst of its divestment plan will be Liquigás