Keppel lands first drilling rig contract for Brazil at $270 million
Posted: 14 August 2006
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Keppel Offshore & Marine Ltd (Keppel O&M), through Keppel FELS Limited (Keppel FELS), has secured a groundbreaking contract to design and build its first drilling rig for deployment in Brazilian waters.
The $270 million contract from Brazilian drilling contractor Queiroz Galvao Perfuracões (QGP) is to build a semisubmersible (semi) drilling platform, with the owner supplying the drilling and subsea equipment.
The rig will be built based on a fifth generation deepwater solution, the DSSTM 38.
 The rig, which will be delivered in third quarter 2009, is expected to support Petrobras’ aggressive plan to improve its hydrocarbons production and reserves in Brazil and elsewhere in the region. The national oil company of Brazil has just upped its capital expenditure by 66% to $87 billion over a five-year ending 2011, with exploration and production (E&P) accounting for 56% of the expenditure.
Tong Chong Heong, Managing Director/Chief Operating Officer of Keppel O&M, said, “I am glad that QGP find the DSSTM 38 rig design a suitable solution for Petrobras after due diligence studies. I am confident that this rig will deliver on its promise, and pave the way for more drilling rig orders from the region.”
Keppel O&M’s projects operating for Petrobras comprise floating production units that amount to around 700,000 barrels of oil per day for Brazil. The company is currently carrying out three other projects for Petrobras directly and indirectly, that will add up to another 540,000 barrels of oil per day by mid 2008.
Tong added: “This is the first time Keppel is building a drilling rig for Brazil. The new contract represents a milestone in the deepening confidence of Brazilian contractors and operators in Keppel’s ability to deliver qu ality products and services on time and on budget.”
An innovative and highly cost-effective new design, the DSSTM 38 semisubmersible drilling rig has been developed to meet operational requirements in the deepwater “Golden Triangle” region, comprising Brazil, Africa and the Gulf of Mexico. The region accounts for 85% of the world’s deepwater exploration and production (E&P) expenditure over the next five years, according to Douglas-Westwood.
The DSSTM 38 is rated to drill to depths of 30,000 feet below mud line in just over 9,000 feet water depth. It is 99.5 metres in overall length, with a main deck size of 69.5 metres wide by 69.5 metres breadth. Its maximum operational displacement is approximately 40,000 tonnes at a draft of 20.5 metres.
The maximum variable deck load of the DSSTM 38 is 5,500 tonnes, with accommodation facilities housing a crew of up to 130 men. It has both vertical and horizontal riser storage. The eight 3000kW Azimuthing thrusters configuration are designed to keep the vessel in position. All configurations comply with the American Bureau of Shipping Dynamic Positioned System (DPS-2) requirements.
DSSTM 20 rig, Maersk Explorer, is currently operating in the Caspian Sea for Maersk Contractors, and its performance has led the drilling operator to order two more rigs, the DSSTM 21. GlobalSantaFe picked the DSSTM 51 rig, presently under construction, for their requirements. The DSSTM 21and DSSTM 51 designs have Dynamic Positioning systems.
The DSSTM series of semisubmersbile rigs is jointly designed by Keppel O&M’s Deepwater Technology Group (DTG) and Marine Structures Consultants of The Netherlands.
Queiroz Galvao Perfuracões is one of the largest Brazilian private groups. The DSSTM 38 will be its fourth semi-submersible drilling platform, which will perform a seven year contract for Petrobras.
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