Petrobras, Turkish Petroleum farms out for operation in Black Sea

Petrobras, Turkish Petroleum farms out for operation in Black Sea Published May 25, 2009 E-mail Print Petrobras, by means of its Petrobras Oil & Gas B.V. subsidiary, and Turkish national oil corporation Turkish Petroleum Corporation (TPAO) ratified the agreement for the farming out of a drill that will operation in the Black Sea. The ceremony, held at the Turkish Republic Presidential Palace, in Ankara, was attended by the president of the Republic, Luiz Inácio Lula da Silva, and by the president of Turkey. Via the agreement, signed last April 30, Petrobras authorized TPAO to use the Leiv Eiriksson drilling rig to drill one of its seven wells in the Black Sea, with the possibility to extend the services to additional wells. The rig is expected to arrive in Turkey in late 2009, and drilling operations are slated to begin in the Sinop well, which Petrobras is the operator of, in the first quarter of 2010. The ratification of the agreement, during president Lula’s official visit to Turkey, reinforces the relationships between the two countries in the pursuit of opportunities for cooperation and new investments. It also represents the efforts of Petrobras, alongside TPAO, to assess the oil potential of the deep waters of the Black Sea, one of the world’s last oil frontiers. During the Brazilian enteurage’s visit to Turkey, Petrobras’ International director, Jorge Luiz Zelada, participated, on May 21, in a conference organized by the Brazilian Embassy and by the Foreign Economic Relations Board, in Istanbul. On the occasion, Zelada presented the opportunities for investments in Brazil and the Company’s activities in Turkey. About the Leiv Eiriksson drilling rig The contract for the Leiv Eiriksson rig was signed between Petrobras and Ocean Rig on April 8. Through it, Petrobras secured the right to use the drilling unit in the Black Sea for a three-year period. The rig was built in 2001 and is capable of performing drilling operations in water depths of more than 2,000 meters. Its total drilling capacity is of upwards of 9,000 meters. The rig is 119 meters long, 85 meters wide and can lodge up to 140 people. Tags: Petrobras, Turkish Petroleum Corporation Sources: http://www.scandoil.com/moxie-bm2/news/petrobras-turkish-petroleum-farms-out-for-operatio.shtml http://www.petroengineers.com/news/article.asp?a_id=75811 http://eupolitics.einnews.com/news/turkey-oil-petroleum