Tag: WSB

BW Energy has completed the acquisition of the FPSO Cidade de Vitória from Saipem. The unit currently produces approximately 10.000 barrels of oil per day from the Golfinho field. The company currently has two vessels from Oceanpact chartered to support production, namely Ilha da Trindade and Ilha de Santana.

Last Thursday, Petrobras’ PLSV tender for Brazilian or REB flag closed out with a great number of vessels participating in the opportunity, mostly due to the five groups (A through E) with different mobilization dates, ranging from March 2024 all the way to March 2026 and three distinct technical specifications, segregated by Petrobras as PLSV types A, B and C.

Offers for PLSVs type A comprised the most amount of batches and, logically, the highest number of candidates too. The prices ranged from USD 242K to USD 467K per day with a total of 14 vessels offered for batches A2, B1, B2, B4, C1, D1, D2, D3, D4, D6, D7 and E1. The PLSV type B had just one batch dedicated to it and only Normand Cutter was presented as candidate, with a rate of roughly USD 304K per day. The third and last specification, PLSV type C, received no offers in all of its 4 dedicated batches.
Practically all the vessels offered in this opportunity are already working in Brazil and waving Brazilian flag, with the exception of Subseas7’s Seven Cruzeiro, Solstad’s Normand Cutter, DOF’s Skandi Açu and Skandi Búzios and Oceanica’s TBN vessel, which are all sailing under foreign flag and will have to seek ways
to join the REB, if awarded.

In this opportunity, Petrobras considered firm contracts of 3 years for all vessels offered in Groups A, B and D and 4 years for groups C and E. Although they did not disclose the number of vessels to be hired in this opportunity, since most of the candidates already work for Petrobras the expectation is that all these positions will be replenished with the offers received.

Last Wednesday (08) was the deadline for Petrobras to receive offers for its OSRV tender. This was the first OSRV opportunity from the Brazilian oil company that required vessels to be equipped with drones and certified crew to operate the equipment and seeks to charter up to 12 vessels. The lot A with mobilization for February 2024 or 60 days upon contract signature had Galaxia Navegação placed first with GNL 1015 (ex-Varada Maresias) at USD 28.172,00 while lot B with mobilization for May 2024 or 150 days upon contract execution had Asgaard Sophia from owners Asgaard Bourbon Navegação ranked first at USD
26.135,00. Petrobras’ reference budget for this tender was USD 21.883,33.

Last Wednesday (8), one of the largest Petrobras´ AHTS tenders from recent times closed out and, as anticipated, a great number of vessels participated in the opportunity. The tender was divided into 6 groups (A through F) with specific mobilization dates, and each group was subdivided into different vessels´technical specifications, varying from 180T, 230T, 250T to 270T bollard pull.

All vessels offered in groups A to D had to be mobilized with a ROV whereas vessels offered in groups E and F did not have such requirement. The offers for AHTS-R with 180T capacity ranged from USD 71K to USD 97K with a total of 6 vessels presented in lots A2, B2 and C2. Offers of AHTS-R with 230T capacity ranged from USD 87K to USD 160K with 10 vessels in total being proposed for lots A1, B1 and C1. The lots D1 and D2 for AHTS-R with 250T and 270T capacity respectively, only had the same Skandi Amazonas as candidate in both with rates roughly at USD 74K and USD 76K.

Following logic, groups E and F which did not require ROV work had the greatest number of
vessels presented amongst all groups. A total of 16 vessels with 180T capacity without ROV were presented, with rates ranging from USD 49K to USD 75K, for the lots E2, E3, F2 and F3. Finally, the
230T capacity vessel without ROV had a total of 7 vessels participating, with rates ranging from USD 74k to USD 148k, for lots E1 and F1. Essentially, most of the vessels offered are currently working
for Petrobras trying to secure their current employments with a handful of newcomers from abroad challenging these open spots for the future.

Last Friday Petrobras received offers for their last AHTS-TS opportunity, which sought to hire just one vessel. The preliminary classification displayed a modest competition, with just 3 vessels participating in the tender. This bidding process was the first one to follow the new modality of Petrobras for public opportunities, in which a reference budget is disclosed, and offers are judged not by most competitive price, but biggest discount from the budget itself. With a budget set at USD 48.166,17 by Petrobras, CBO managed to secure the first place after presenting a discount of USD 5.513,17 for A.H. Liguria, and a final day rate of USD 42.653,00. Following the list are Solstad in second with Normand Topázio and Asgaard Bourbon with an undisclosed vessel. Expected mobilization for this tender is March/24, with a contract duration of 4 years firm.

Petrobras’ FPSO Almirante Barroso, operating in Búzios field, Santos Basin, reached a peak production of 150 thousand barrels of oil per day (boed) last Tuesday (24). This was achieved in record time: 146 days after the first oil. The company’s previous record was the FPSO P-76 which reached maximum production capacity in 234 days, also in Búzios field. Chartered from Modec, the platform is located 180 km off the coast of Rio de Janeiro, in a water depth of 1,900 meters. Petrobras is the operator of the
field with a 88.99% stake, with CNOOC as partners with 7.34% and CNODC with 3.67%.

Last week, part of our team of brokers and advisors was at OTC Brasil. The conference is always a great opportunity to meet with clients and make new ones. We had the pleasure to meet several of
our clients including our good friends at Grupo CBO and discuss about on-going and future opportunities. The expo was teeming with relevant oil and gas professionals which reflects the current agitated market scenario.

AHTS 21000 Normand Statesman has concluded her contract with Petrobras earlier this week and is expected to leave Brazil in the coming weeks. The vessel is owned by Ocean Yield ASA and was
under a bareboat charter with Normand Chartering AS, a subsidiary company of Solstad Offshore. Ocean Yield ASA has exercised its right under the bareboat charter to have the vessels redelivered.
Normand Statesman was working as an AHTS-R (AHTS with ROV) in Brazil for Petrobras since October 2020 when she was chartered for a 1095 days firm contract.