Brazil’s rig market is starting to feel the effects of the increase in foreign operators with parallel indications that demand from Petrobras is also starting to stir, writes Gareth Chetwynd.
Petrobras has been working with a slimmed-down fleet of under 10 deep-water rigs, but this could jump to at least 22 in early 2020.
Competitive tenders to obtain rigs for the Mero project, for the BM-S-11 area and for the company’s own tender for a “pool” of rigs, resulted in 10 orders, pushing prices below $160,000 in some cases.
