Petrobras contracts with Scorpion for newbuild semisubmersible

Scorpion Offshore has signed a six-year contract with Petrobras for a newbuild deepwater semisubmersible, which will conduct operations offshore Brazil.

Offshore staff

HAMILTON, Bermuda -- Scorpion Offshore has signed a six-year
contract with Petrobras for a newbuild deepwater semisubmersible, which
will conduct operations offshore Brazil. The revenue from this contract
will be approximately $1.1 billion, plus operating cost inflation
adjustments throughout the contract term, according to Scorpion.

Scorpion has ordered the DSS-38 from Keppel Fels with delivery in
December 2011. This new rig will be a dynamically-positioned, four
column semisubmersible capable of drilling wells to 8,500 m (27,887 ft)
in water depths up to 2,400 m (7,874 ft). The total estimated cost of
this rig, including owner furnished equipment, commissioning, project
management, and financing costs is $700 million, the company says.

08/04/2008

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