Odfjell Signs Deep Water Deal With Petrobras

4 June 2009 (Last Updated June 4th, 2009 18:30)

Drill rig operator Odfjell Invest has signed a deal with Brazil's Petrobras for the semi-submersible drilling rig, Deepsea Stavanger. The contract is scheduled to commence when the unit arrives in Brazil in September 2010. Delivery is scheduled for June 2010. The contract wi

Drill rig operator Odfjell Invest has signed a deal with Brazil's Petrobras for the semi-submersible drilling rig, Deepsea Stavanger.

The contract is scheduled to commence when the unit arrives in Brazil in September 2010.

Delivery is scheduled for June 2010. The contract will have a fixed duration of three years from the commencement date.

Petrobras has the option to contract the two drillships, Deepsea Metro I and Deepsea Metro II, which Odfjell Drilling has under construction at Hyundai Heavy Industries in South Korea, for rig owner Deep Sea Metro.

Deep Sea Metro is a joint venture of Odfjell Drilling and Metrostar Management. The vessels will be delivered from their respective yards in May and October 2011. The agreement is made subject to approval from partners and Petrobras' board of directors.