Seadrill In $2.7 Billion Deal With Brazilian Firm
Seadrill Limited and SapuraKencana Petroleum Berhad this week [June 28] announced that their jointly owned entity, Sapura Navegação Marítima S.A., Brazil [SNM] has been awarded a contract from Brazilian multinational energy corporation Petróleo Brasileiro S.A. to charter and operate three pipe-laying support vessels [PLSVs].
The contract is for a period of eight years with an extension option for an additional eight years and is expected to commence by the second quarter of 2016. Total revenue potential for the contract is expected to be $2.7 billion.
The three vessels will be constructed in Holland with IHC Caland and will have the same specifications as SNM’s existing orders with the yard. Total newbuild cost will be approximately $800 million.
John Fredricksen, chairman of Seadrill Limited said, “Seadrill, along with SapuraKencana, continues to support the strategic investment in SNM. The additional vessels bring the total PLSV fleet in the region to six units and builds capacity in order to insure that Petrobras has best in class support for their operations.
“This long term agreement demonstrates SNM’s strong relationship with Petrobras and their industry leading operational performance.”
Seadrill is an offshore drilling company domiciled in Bermuda and managed from Norway by Seadrill Management AS.
Seadrill has operations in countries that include Angola, Brunei, the Republic of Congo, Indonesia, Malaysia, Nigeria, Norway, Thailand, Brazil and the United Kingdom among others.
