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Monday, June 16, 2014
Ocean Rig signed a definitive agreement with Total E&P Angola for a six-year contract for the ultra deepwater drillship Ocean Rig Skyros. The vessel is a 7th generation deepwater drillship of enhanced SAIPEM 10000 Design. The drillship will be used for offshore drilling operations on Angola’s Block 32.
The contract is expected to commence in the Q3 2015 and has an estimated backlog of $1.3 billion.
Total is the operator of Block 32 and has recently launched the Kaombo development. The Kaombo project will develop six of the 12 discoveries already made on Block 32; the six fields (Gengibre, Gindungo, Caril, Canela, Mostarda and Louro) cover an area of 800 sq km in the central and southeast part of the block.
The development will be comprised of 59 subsea wells, connected through around 300 km of subsea lines, to two FPSOs, each with a production capacity of 115,000 bpd. The two FPSOs will be based on conversions of very large crude carriers (VLCCs) into production units. Associated gas will be exported to the onshore Angola LNG plant.
Following an intensive optimization exercise, the project’s capital expenditure to reach full capacity was reduced by $4 billion to $16 billion, with an expected start-up date sometime in 2017.
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