Brazil: Ocyan wins three new contracts for its assets

By Ocyan

December 12, 2022

This is a machine translation of the press release originally published in Portuguese

Ocyan, a company in the oil and gas sector, won new contracts with Petrobras for its rigs, ODN I, ODN II and Norbe VI. The company participated in the state-owned company's tender to charter deep-water drilling units. Of a total of 12 rigs in dispute in the 3 proposed lots, Ocyan will be in lot 2 with two assets (ODNI I and ODN II) and in lot 3 with Norbe VI.

“It is an important achievement because many companies were in dispute with different rigs. Winning reinforces Ocyan's strategic position with operators in the drilling area, mainly in the domestic market. With guaranteed contracts, we can look to the future, to new opportunities and new businesses”, highlights Heitor Gioppo , executive vice president of drilling at Ocyan.

The three units, the semi-submersible with capacity to operate in a water depth (LDA) of 2,400 m and the two ships with capacity to operate in LDA of 3,000 meters, were contracted for a period of 1,095 days (three years), with the possibility of extension for the same period. In lot 2, five rigs will operate for Petrobras and Ocyan will be with the ODNs. Lot 3 will only hire Norbe VI. All rigs in this tender currently have active contracts, two of them with Petrobras and one with PRIO (formerly PetroRio) . With this achievement, the fleet now has a backlog of 5,480 days.

“The rigs for this major contract will only start work after the current contracts expire. The expectation is that by 2026 they will be active for these contracts, which will give Ocyan a lot of peace of mind”, explains the executive. He also recalls that the rig will need some time to adapt to a new contract, especially in the case of ODN II, which will be coming from operations on the Equatorial Margin.

Today, Norbe VI has an active contract until August 2023. ODN I has an active contract until January 2023. ODN II, in turn, is the first rig to operate in the Equatorial Margin and will remain in place until December 2023, when it will be able to execute the new contract.