Petrobras Contracts Deepsea Metro II

Petrobras Contracts Deepsea Metro II

Monday, May 09, 2011
Odfjell Offshore Ltd.

Deep Sea Metro Ltd. has secured a contract with Petrobras for its second drillship; the Deepsea Metro II.

The contract with Petrobras has a firm duration of 3 years and the value, including part of potential bonus and mobilization fee, is approximately USD 531 million.

Deepsea Metro II will be operating in ultra deep waters offshore Brazil from the end of Q4 2011.

Deepsea Metro II is the second of two ultra deepwater drillships under construction by Deep Sea Metro Ltd., and is scheduled for delivery from Hyundai Heavy Industries (HHI) ultimo November 2011. The Deepsea Metro I has recently secured a deepwater drilling contract with the BG Group and is expected to be delivered from HHI on 31 May 2011.

The Metrostar Group retains 60 percent ownership in Deepsea Metro I & II and Odfjell Drilling Ltd has a 40 percent ownership, which is in the process of being transferred from Odfjell Drilling Ltd to Odfjell Offshore Ltd.

Odfjell Drilling Ltd is responsible for the construction follow-up, management and operation of the vessels.

Chairman of the Board in Odfjell Offshore Ltd., Simen Lieungh, says:

"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. We have now secured contracts for all our deepwater newbuild units and we look forward to the operations ahead."

Oil & Gas Post

Promote Your Page Too

Odfjell Drilling Cements Deal for Drillship Deepsea Metro I

Odfjell Drilling Cements Deal for Drillship Deepsea Metro I

Tuesday, April 26, 2011
Odfjell Drilling AS

Odfjell Drilling has on behalf of Deep Sea Metro secured a contract with the BG Group for its first drillship; the Deepsea Metro I.

The contract with BG Group has a firm duration of 365 days with 3x6 months options and a contract value of approximately 175 million USD including mobilization and net taxes, excluding options.

CEO of Odfjell Drilling Mr. Simen Lieungh said, "We are delighted that Deepsea Metro I has been chosen by the BG Group for this drilling campaign in Tanzania. We believe that the award of the contract to Deepsea Metro I by BG Group is a validation of Odfjell Drilling’s proven deepwater capabilities and ability to take a new build from yard straight into operations."

On behalf of Deepsea Metro Ltd, Odfjell Drilling will be manager and operate Deepsea Metro I.

Deepsea Metro I is scheduled for delivery from Hyundai Heavy Industries (HHI) early June 2011. The first well is assigned to Woodside Energy for one well in South Korea prior to start of operations in Tanzania.

Deepsea Metro I is the first of two ultra deepwater drillships. Deepsea Metro II will be delivered from HHI in November 2011.