Page 11 - LatAmOil Week 03 2020

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The contract calls for the Brazilian company to provide logistical support for the latter’s offshore drilling operations in the Ceará Basin.
Premier Oil’s target is Block CE-M-717, which may contain as much as 300mn barrels of crude. The company won the right to develop the block in 2013, during Brazil’s 11th licensing round. It serves as operator of the site and has a 50% equity stake in the project.
The logistics base is due to become opera- tional in time to support the drilling of a well at the Berimbau/Maraca stacked prospects at Block CE-M-717. Premier Oil has said it hopes to spud the well in the third quarter of 2020 using the DS-9 drillship owned by Valaris. The company signed a contract for the drillship ear- lier this month. It has not revealed the value of the deal, but Bassoe has estimated that the day- rate for the DS-9 contract will be $190,000.
The vessel is currently working in another section of Brazil’s offshore zone under contract with France’s Total. That contract is due to expire in May of this year. ™
Japan’s MODEC seeks to expand offshore Brazil
JAPAN’S MODEC, a manufacturer of floating oil and gas equipment, has said it plans to grow its business in Brazil, the largest oil producer in South America, by winning one or two major platform contracts each year.
The company is looking to take advantage of the boom in Brazil’s offshore zone, a senior exec- utive told Reuters. Soichi Ide, MODEC’s chief digital officer and vice-president of operations for Latin America and Ghana, said that a series of contract wins in recent years had made Brazil a key market for the company.
“There are no other locations like Brazil, where we can really keep producing in new areas. That’s not happening anywhere in the
world, only in Brazil,” he was quoted as saying by Reuters.
Ide said that his company was expecting Brazil’s national oil company (NOC) Petrobras and the global oil majors operating in the coun- try to need between 20 and 30 new platforms within the next five years. To this end, MODEC is intending to hire around 800 employees in the country by 2020, which represents a 35% increase on current levels, he said.
MODEC has been present in Brazil since the early 2000s. The firm has already supplied 11 platforms for work in the pre-salt and conven- tional zones, and its equipment now accounts for 35% of production from pre-salt fields.
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Block CE-M-717 lies in the Ceará Basin (Image: Premier Oil)
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MODEC’s Cidade de Mangaratiba FPSO offshore Brazil (Photo: MODEC)