Pacific Mistral Wins 3-Year Contract for Petrobras

- Pacific Mistral Wins 3-Year Contract for Petrobras

Wednesday, August 17, 2011
Pacific Drilling S.A.

Pacific Drilling announced that its ultra-deepwater drillship the Pacific Mistral has been awarded a three-year contract by Petróleo Brasileiro S.A. (Petrobras) for operations in Brazil. The contract is expected to commence in the fourth quarter of 2011, and estimated maximum contract revenues, including mobilization and client requested modifications, are expected to be approximately $536 million.

Pacific Drilling Chief Executive Officer Chris Beckett stated, "We are pleased to announce the beginning of a core, strategic relationship with Petrobras. This contract for the Pacific Mistral underscores our commitment to work with the best operators in the industry and also expands our operating presence in the Atlantic Basin, a region of focus for our activities."

The Pacific Mistral was delivered by Samsung Heavy Industries in June 2011. The rig is equipped for and capable of operating in water depths of up to 12,000 feet and drilling wells 37,500 feet deep.

With its best-in-class drillships and highly experienced team, Pacific Drilling is a fast growing company that is dedicated to becoming the preferred ultra-deepwater drilling contractor. In addition to three ultra-deepwater drillships delivered to date, Pacific Drilling expects delivery of an additional drillship during the fourth quarter of 2011 and has two drillships on order at Samsung for delivery during 2013.

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Aker Signs 3-Year Frame Agreement with Eni

- Aker Signs 3-Year Frame Agreement with Eni

Tuesday, June 21, 2011
Aker Solutions

Aker Solutions' geo business has signed a three-year frame agreement with Eni Norge AS to supply sub-surface consultancy services within the areas of geology, geophysics, petrophysics, reservoir technology, well site and operations geology. Contract value is undisclosed.

The agreement is valid a period of three years. In addition, Eni Norge has options to extend the agreement with three one-year periods.

"This is an important contract for us with an oil company that has great ambitions for its activities in Norway," said Helge Nyrønning, head of sales and marketing in Aker Solutions' geo business.

"We are currently experiencing significant growth in demand for our services on the Norwegian continental shelf, which remains a highly attractive offshore market. To be awarded long-term frame agreements like this demonstrates that we possess the expertise that is needed to support oil companies with their exploration and field development work," added Nyrønning.

Aker Solutions' sub-surface consultancy business delivers services through the whole subsurface value chain, from exploration to production. The unit comprises a team of 70 geologists, geophysicists and reservoir engineers. Its main fields of activity are geological and geophysical interpretation, petrophysics, reservoir modeling and simulation, well site geology as well as production technology and operations.

Aker Solutions' contract party is Aker Geo AS.

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