Seadrill and MPF signed 4.1billion to rent platforms.
Brazil's Petrobas awards major contracts to Norway's Seadrill, MPF
Apr 14, 2008
OSLO (AFP) — Brazilian oil group Petrobras has awarded the Norwegian oil services companies Seadrill and MPF two contracts that could be worth more than 5.0 billion dollars (3.2 billion euros), Seadrill and MPF said on Monday.
The orders cover Petrobras' lease of drilling platforms for oil and gas prospecting.
In a deal that could be worth up to 4.1 billion dollars, Seadrill will provide the Brazilian group with three semi-submersible drilling platforms in South Korea and Singapore for six years.
The contract brings Seadrill's order book to 12 billion dollars.
Seadrill, one of the biggest drilling groups in the world, is registered in Bermuda and listed on the Oslo stock exchange.
The West Eminence and West Taurus platforms will be used off the coast of Brazil as of the first quarter of 2009, while the West Orion platform will be in operation as of the third quarter of 2010.
"This is one of the most important assignments ever awarded to Seadrill," the head of Seadrill Management, Kjell Jacobsen, said in a statement.
"Brazil will become one of the strategically most important areas of operations for the company in the years to come," he added.
The Seadrill share price was up 3.01 percent in midday trading on the Oslo stock exchange, in an overall market down by 1.5 percent.
In a separate statement, MPF, also registered in Bermuda but with a management team based in Oslo, said it had won a Petrobras contract to lease a drilling platform as of the fourth quarter of 2009.
That deal, worth 630 million dollars over three years, includes an option allowing Petrobras to prolong the contract for two additional years which would bring its total value to 965 million dollars. |
