Petrobras Primes Bit in Campos Basin

Petrobras awarded BassDrill with a 945 day contract for which the company has ordered a new semisubmersible tender assist unit (semi tender). Commencement of the contract is set for Q1 of 2013. The BassDrill Beta will be used to undertake a development program on the Papa Terra TLWP (tension leg wellhead platform) located in the Campos Basin in 1200m of water. The BassDrill Beta will be BassDrill's second tender assist unit and will place the young company in both the barge and semi sectors of the tender assist drilling market.

The Beta will be constructed in Dalian, China at Dalian Shipbuilding Industry Corporation (DSIC). All drilling components, cranes mooring winches and other major components will originate from the US, Canada and Europe. The mast equipment package (MEP) will be designed and constructed in the US by Axon Rig Concepts and Design of Houston before being shipped to Dalian where it will be mated with the Beta for testing and commissioning. The BT-3500 design, a 21,000mt displacement four column semi, was designed by Bassoe Technology AB (Basstech) of Gothenburg Sweden. The Beta will be the first ever dedicated semi tender fabricated for use outside of benign waters. The company is confident that this landmark contract award with Petrobras will lead to further new building opportunities in the expanding market for deep water semi tender operations alongside TLPs, spars and other structures.

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