Drilling Rig Tender

Source: www.gulfoilandgas.com 3/22/2017, Location: South America

Petrobras clarifies that it offered for sale by auction, seven drilling rigs, due to the move to reduce costs that the company has been pursuing in line with its Strategic Plan/PNG 2017-21.

The current scenario of low oil prices led to a reduction in the demand for rigs at a global level, and Petrobras has followed the move by other companies in the sense of rescaling fleets to their needs.

Moreover, the PNG 2017-21 focus on development projects in deep waters and ultra deep waters, and more efficiency in the application of invested resources, further reduced the demand for rigs for activities in shallow waters, such as those mentioned in the article.

The Company further clarifies that, in the case of P-59 and P-60, the US$ 20 million value for each unit is only the starting bid in the auction, and should not be construed as the minimum sale price, which is defined by Petrobras and, pursuant to usual auction proceedings, has its confidentiality safeguarded. Per the auction notice published on the Official Federal Gazette on 3/16/2017, the offer of highest value shall be declared the winner, if equal to or greater than minimum price.

Petrobras lastly clarifies that it has evaluated the subject and deemed it was not the case of material information that could impact decisions by investors in connection to Company securities.

Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

Related Articles: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

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