Ocean Rig UDW has emerged as the frontrunner to build five new drillships for long term charter to Petrobras, having won the tender to negotiate a contract.
The newly Nasdaq-listed company, which is 73.7% owned by DryShips, put in the lowest bid for the deal in a domestic Brazilian drilling tender, it has been confirmed.
An internal Petrobras panel reportedly rejected an attempt by rival bidder Sete Brasil to have the Ocean Rig offer disqualified.
The tendering success only gives Ocean Rig the right to negotiate the business. “You cannot say we have won the contract,” said Pankaj Khanna in a DryShips earnings call today. “It is still at a very early stage”.
The vessels would be built at Synergy Group yards near Rio de Janeiro at a cost of about $800m each, but would benefit from 15-year charters paying about $630,000 daily.