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Petrobras contracts Deepsea Metro II drillship to drill in the ultra-deepwaters offshore Brazil for $531MM
May 9, 2011
By Phaedra Friend Troy
Brazilian major Petrobras (NYSE:PBR) has contracted Deep Sea Metro Ltd. for its second drillship, the Deepsea Metro II, for a three-year drilling campaign in the ultra-deepwaters offshore Brazil.
Valued at $531 million, the newbuild's drilling contract schedules the drillship to start first work at the end of the fourth quarter of 2011.
The second of two ultra-deepwater drillships under construction by Deep Sea Metro, the Deepsea Metro II is scheduled for delivery from Hyundai Heavy Industries in November 2011. Already contracted to BG Group, the Deepsea Metro I is scheduled to be delivered from HHI on May 31, 2011.
The Metrostar Group holds 60 percent ownership in the two drillships, and Odfjell Drilling holds the remaining 40 percent interest in the rigs, which will shortly be transferred to Odfjell Offshore.
“To enter the deepwater market offshore Brazil has always been part of our long term strategy with Deep Sea Metro Ltd., and with the award of this contract to Deepsea Metro II, we have achieved it,” said Simen Lieungh, chairman of the boar in Odfjell Offshore. “We have now secured contracts for all our deepwater newbuild units, and we look forward to the operations ahead.”
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