Petrobras Hiring 40 Deepwater Rigs
Brazil’s Petrobras plans to hire 40 deep and ultradeepwater rigs by 2017. That’s good news for drilling and oilfield services companies, although it’s not entirely clear what Brazil’s state-run oil company has in mind.
“We’re investigating the (1) expected mix of existing, already under construction, and yet-to-be-ordered rigs; (2) expected mix of drillships and semis; (3) the share that will realistically (economically viable) be accessible to the U.S.-listed drillers; and (4) of that U.S.-accessible share, how much of it will be newbuild opportunities?” said Wachovia Capital Markets senior analyst Tom Curran.
But Curran says the announcement is “pure positive” over the next few years because it implies more existing and newbuild rig opportunities for major U.S.-listed players.
