Petrobras awards 11 AHTS contracts in their last tender offers-in in November 2023.
Facts: one of the longest lead times for OSV awards ever seen. Nominal rates increased though still depleted when compared to 8 years ago. Vessels offered on low-priority lots not awarded in spite of the very competitive rates. Vessels offered on top-priority not awarded outside the budgeted figures.
The enclosed table displays the awarded contracts. To see who was left out and at what rates get in touch.
Tag: Petrobras
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AHTS results out
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OSRV preliminary results
First time since 2018, the Global Day Rate (TDG) considered actual fuel cost. Previously on public opportunities Petrobras applied a virtual bonus instead. Brazilian and/or REB vessels only allowed in this opportunity, divided into lots A and B, with mobilizations respectively for March 2025 (or 180 days upon contract signature) and July 2025 (or 270 days upon contract signature) and duration of 4 years firm.
Our results table displays the actual day rates and the TDG. Effectively the classification would remain unchanged except for Campos Contender, from Bram/Chouest, an AHTS naturally impacted by the increased fuel figures when compared to other “contenders”.
OceanPact Serviços Marítimos secured first place in Lot A with Ilha de Tinharé (former NS Loreto) and Bram Offshore in Lot B with C-Agressor and C-Atlas tie. Grupo Bravante was also well positioned in both Lots with good chances of qualification in the tender. To be seen. We will report. -
Another Noble move
Noble Corporation acquired Diamond Offshore involving a mix of stock and cash. Diamond Offshore shareholders will own approximately 14.5% of Noble’s outstanding shares and receive a cash consideration per share 11,4% premium on top of closing price June 7th 2024.Noble Board of Directors will be expanded to include one member from the Diamond Board.
Both companies have exposure to the Brazilian market rigs Noble Faye Kozack and Ocean Courage are in country. Noble Faye Kozack marks the return of Noble to Brazil and is stationed in Niterói, off the coast of Rio de Janeiro, scheduled to commence operations for Petrobras in July, extending until 2026. Meanwhile, the Ocean Courage has been chartered to Petrobras since 2022, with the contract running through to 2027.
Upon completion of the merger, Noble will operate a fleet of 41 rigs, including 28 floaters and 13 jackups. Additionally, the combined company’s backlog is projected to be approximately $6.5 billion. This marks Noble’s second significant strategic move in recent years, following its business combination with Maersk Drilling which was made effective in October 2022. -
Santos hosts SP offshore
The city of Santos, on the coast of São Paulo state (and which gives its name to the Santos Basin), hosts SP Offshore this week. The event will discuss topics such as security, logistical challenges, innovation, technology and sustainability.
SP Offshore is a great opportunity for professionals in the field to meet friends in addition to making new ones, strengthening ties and expanding knowledge. This is the first edition of the event, which promises to be on the national calendar for many years to come.
Companies such as Petrobras, MODEC, Bram Offshore, PRIO, Wilson Sons, and SBM Offshore will be present at the two-day event. The agenda has ten panels, as well as coffee breaks and pitches with start-ups. -
Petrobras promotes live about descomissioning
Petrobras conducted a live broadcast to update potential suppliers about its decommissioning plans. The company emphasized its commitment to managing operations according to ESG (Environmental, Social, and Corporate Governance) standards, with a special focus on its new “green decommissioning” policy.
Between 2024 and 2028, Petrobras plans to invest USD 11 billion to decommission 23 platforms, 1900 km of flexible lines, and 550 wells. Beyond 2029, the company expects to decommission at least 40 additional platforms.
Petrobras also revealed that the tender for decommissioning P-26 and P-37 will be launched in 2024, followed by P-35 in 2025. Furthermore, by 2028, the company intends to issue at least nine EPRD contracts, including tenders for related services like pipe cutting and plugging.
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Petrobras starts drillings
Petrobras began drilling well 4-BRSA-1392D-ESS in the Jubarte field, at a water depth of 968 meters. The site is part of the Parque das Baleias, offshore south of Espírito Santo, in the Campos Basin and is one of the main oil producers in Brazil.
The Brazilian oil company conducts the activity with the Brava Star drillship, from Constellation. The vessel is the most modern unit in the Constellation fleet. It was designed to operate in water depths of up to 12,000 feet (approximately 3,658 meters) and has a drilling capacity of up to 40,000 feet (approximately 12,192 meters).
“About a month ago, the FPSO Maria Quitéria left China heading to Brazil. It will operate in the Jubarte Field, with an estimated production of 100 thousand barrels of oil per day from 2025. The national offshore market and even International are eager to see how the vessel will operate, which promises to innovate in reducing the emission of polluting gases”, recalls Omar Darian, Chartering Manager at WSB.
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DOF announces PLSV contract with Petrobras for Skandi Vitoria
Exciting News! DOF has secured a major contract with Petrobras for the pipelay support vessel (PLSV) Skandi Vitória. This 3-year firm plus option contract starts in 2025. Proudly Brazilian-built and flagged, Skandi Vitória is owned by DOFCON, a 50/50 joint venture between DOF Subsea and TechnipFMC.
“Reflecting on the visionary leadership of Helge Mogster and Mons Aase, who epitomized the true shipowner spirit. With a clear vision for the future of ultra-deepwater oil exploration, they leveraged Brazil’s unique Fund for Merchant Marine, enabling accessible, long-term financing at attractive rates. Their informed decision-making and calculated risks to build locally have proven successful over time. Congratulations to the entire DOF family on this enduring success”, said Paulo de Tarso Rolim de Freitas, Westhon’s Chairman of the Board, fondly recalls his engagement with Helge Mogster and Mons Aase during his time at Aker Promar, where they conducted highly professional negotiations for the construction of this great project in Brazil.
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Up to 21 PSV’s tender: 11 confirmed
Petrobras released the partial homologation of the “Up to 21 PSVs” tender, as follopetrobws:
11 vessels are confirmed: Bram Búzios, Allie Chouest and Roger White, from Bram; Batuíra e Prion, from Wilson, Sons; Starnav Scorpius, from Starnav; Sealink 178, from Camorim, Posidonia Lion, from Posidonia, Wm Pacific, from Marlim (Bravante Group), e Standard Defender, from Galáxia and a new vessel, Jack Edwards, from Bram, replacing Clarence Triche. Jack Edwards and Allie Chouest have already arrived in Brazil.
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Subsea7 strikes Buzios 9 EPCI
Subsea7 was awarded by Petrobras for the subsea development of the Búzios 9 field, approximately 180 kilometres off the coast of Rio de Janeiro, in Santos Basin.
The scope of work includes engineering, procurement, fabrication, installation, and pre-commissioning of 102 kilometres of rigid risers and flowlines for the production system. The fabrication of the pipelines will take place in Espirito Santo and offshore operations are expected to last for two years, starting in 2026. Subsea7 didn’t disclose the exact value, but defines as a ‘super-major contract’, being over $1.25 billion, reinforcing the growth of the company in Brazil.
“Two years ago Subsea7 was awarded a contract similar to this one for the development of the Búzios 8 field, worth around USD 750 million”, remembers Omar Darian, Chartering Manager at WSB Advisors.
Subsea7 confirms award
On this monday (03), Subsea7 confirmed the award by Petrobras of four long-term day-rate contracts for PLSVs commencing in 2025. Together, these contracts have a combined value of over $1.25 billion. The contracts for Seven Rio, Seven Cruzeiro and Seven Sun comprise a firm three-year period while the award for Seven Waves comprises a firm four-year period. WSB reported in April further details regarding the commercial classification of the tender, including number of vessels expected to be awarded and daily rate levels.
“Subsea7 is pleased to extend its successful, long-term relationship with Petrobras that has covered both day rate PLSV activities and major greenfield projects since 1998. We look forward to continuing to work together to deliver complex and challenging deepwater developments with high standards of safety and reliability”, said Yann Cottart, Subsea’s Vice-President in Brazil.
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2 become 10
“Petrobras is facing ‘owner’s market’ conditions. The oil giant remains asking for too extended offer validity periods, and vessels are getting fixed elsewhere in a much more dynamic market. Notwithstanding, owners’ challenges with financing modifications and other particular requirements of the Brazilian market remain, Petrobras ain’t getting what they expect to hire.
The inevitable consequence is to review ongoing tenders as the current PSV demand being revised from 2 PSV/OSRV type to 10 units, now including oil, general cargo, fluid carriers and multipurpose PSV specs.”
This is the reflection of Alexandre Vilela, CEO of WSB, on the recent change promoted by Petrobras in opportunity 7004270127 via Petronect.
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WSB in new FPSO arrival
“WSB is proud to cooperate with MISC in several capacities in this project. We are working with the extremely professional team of colleagues from MISC to deliver a successful mobilization of unit” says Omar Darian, Chartering Manager at WSB.
FPSO Marechal Duque de Caxias has arrived in Brazil this week, set to enhance by 180 thousand boed the production of the Mero Field in the pre-salt region of the Santos Basin to over 590 thousand boed. The unit arrived straight to field, is being moored by Petrobras AHTSs before final preparations to start production shortly.
Stay tuned for further updates on WSB role on this project and other companies involved, and the exciting developments in Brazil’s energy sector.
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Petrobras signs deals for FPSOs
Petrobras has awarded two newbuilding contracts valued at approximately S$11 billion ($8.15 billion) to Seatrium for the construction of FPSOs P-84 and P-85.The two units will be installed, respectively, in the Atapu and Sépia fields, in deeper than 2 thousand meters waters in pre-salt of Santos Basin.
Construction of the P-84 and P-85 FPSOs will commence in first quarter of 2025 with the final delivery expected to be in 2029. The production is expected to begin between 2029 and 2030.
The vessels will have a daily production capacity of 225 thousand barrels of oil per day and process 10 million cubic meters of gas per day. Construction will be done in shipyards in Brazil, China and Singapore, with local content of 20% in P-84 and 25% in P-85.
These will be the second units in their respective fields. Atapu already has the P-70, while Sépia has the FPSO Carioca. These projects are expected to reduce the intensity of greenhouse gas emissions by 30% per barrel of oil equivalent produced, being among the most efficient FPSOs in Brazil.
Petrobras has a 65.7% stake in Atapu, in partnership with Shell (16.7%), TotalEnergies (15%), Petrogal (1.7%) and PPSA (0.9%). In Sépia, Petrobras has a 55.3% stake in partnership with TotalEnergies (16.9%), PETRONAS (12.7%), QatarEnergy (12.7%) and Petrogal Brasil (2.4%).