Petrobras Board Approves Rig Construction Program

Petrobras' Board of Directors has approved the bidding process for the construction of up to twenty-one drilling rigs to be built in Brazil. Drilling contractors that are awarded a contract to build a rig will also be awarded a contract with Petrobras for the charter of the unit. Each company that participates can submit a proposal for one or more batches of one or more rigs, up to a total of twenty-one units. Certification of domestic content (products and services sourced in Brazil) will be a requirement, with minimum figures specified by the National Petroleum Agency (ANP).

This tender is part of Petrobras' overall strategy to hire up to twenty-eight new rigs to be built in Brazil for deepwater exploration primarily in pre-salt fields.

Earlier this year, Petrobras awarded a rig construction package to Sete Brasil valued at Us $4.6 billion for the construction of seven deepwater drillships. These rigs will be built by Estaleiro Atlantico Sul, which is a consortium of Samsung Heavy Industries, Queiroz Galvao and Camargo Correa, with the first rig expected to be operational in 2015.

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