Odfjell and Maersk threaten ONGC deal with Sevan

Vol 12, PW 19 (26 Feb 09) Exploration & Production

Odfjell Drilling of Norway and Maersk Drilling of Denmark have each offered an under construction â€کnew-build’ deepwater drilling rig to ONGC, in a move that threatens ONGC’s existing commitment to take delivery of Sevan Driller-II from rival Norwegian contractor Sevan Marine.

No one from Odfjell would confirm which rig has been offered, but PETROWATCH learns from industry sources that it is Deepsea Stavanger, which will be ready for delivery in mid-2010 and currently has no contract. Another Odfjell â€کnew-build’, Deepsea Atlantic, will also be ready in mid-2010, but this has been contracted to Statoil for four years when it leaves the Daewoo shipyard.

Both rigs can drill in waters depths of 10,000-ft and carry a 15,000-psi BOP stack. Maersk confirms it has three â€کnew-build’ deepwater rigs under construction in Singapore each carrying a 15,000-psi BOP stack and which can drill in 10,000-ft water depths but that only one of them, Maersk Deepwater Semi 3, will be ready by June or July 2010 and is still looking for a contract.

The other two have already found a home: Maersk Developer with Statoil in the US and Maersk Deepwater Semi 2 with Woodside in Australia. Maersk won’t confirm it has offered Maersk Deepwater Semi 3 to ONGC, but one can safely assume it has.

What is confirmed is that ONGC has in hand two â€کfirm’ offers from Maersk and Odfjell made in response to its wide-ranging Expression of Interest for four deepwater floaters that can drill in water depths from 2000 to 12,000 feet that closed on January 30. During a pre-bid meeting on February 6, ONGC was clear that it would look only at offers where mobilisation is confirmed for December 2010 – sending a strong signal to Sevan Marine, which initially promised to deliver Sevan Driller-II by this date, but is now telling ONGC it will deliver the rig by June 2011, at the earliest.