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Repsol (APAC)

/Repsol (APAC)
Repsol (APAC) 2017-08-10T12:34:37+00:00

Project Description

2408, 2017

UMW Secures Contract With Repsol Malaysia

Repsol has awarded a contract for the provision of jackup UMW Naga 5 (400'-IC) for one year of work plus a one-year option, covering operations offshore Malaysia. The campaign will begin in mid-September, shortly after the rig completes its current contract with Petrofac offshore Malaysia.

2008, 2017

Repsol’s Vietnam Tender Continues To Progress

Repsol’s tender for a floater for its Ca Rong Do drilling program in Blocks 135 & 136/03 is in the clarification stage. The 5+8 well program is due to commence in Q1 2018 in 320m water depths. The firm duration is 216 days with another 258 days potential options. Although it is a mid water requirement it is almost certain to be fulfilled with one of the region’s ultra deepwater rigs. Repsol have Odfjell UDW drillship Deepsea Metro 1 on charter at present though under force majeure after China pressured Vietnam to stop drilling in the disputed waters around the [...]

1408, 2017

Repsol Issues Force Majeure Notice

As previously reported, the Vietnamese Government has forced Repsol to cease drilling in Block 136-3, which lies in the disputed portion of the South China Sea, after China threatened Viet-namese facilities on their Spratly Island outposts. Odfjell’s UDW drillship Deepsea Metro I has returned to Vung Tao and Repsol has issued a Force Majeure notice under its contract with Odfjell. The rig had completed one well under its 2 firm well charter which had a minimum duration of 150 days. Odfjell is now considering the legal implications of the notice. Meanwhile Repsol have reported that they have spent $27m so [...]

1408, 2017

PV Drilling Secures Repsol Malaysia Contract

Repsol has awarded a contract to PV Drilling for one of its two outstanding jackup tenders. The PV III (400'-IC) will undertake the one-year plus one-year option, six-well program in the Bunga Pakma Field in Block CAA PM3 starting March 2018. Water depth at the location is around 165'. The rig is currently working for Than Long off Vietnam and is scheduled to complete that work in early September, after which it will have an idle gap until starting the Repsol contract. The operator also has another one-year plus one-year contract for the Kinabalu block to award, with market speculation [...]

3107, 2017

Repsol Vietnam Caught Up In Vietnam and China Dispute

Despite all the initial secrecy surrounding the Repsol drilling program in Vietnamese Block 136-3, using Odfjell UDW drillship Deepsea Metro 1, it was inevitable that China would object to Repsol drilling in a disputed area of the South China Sea and indeed they have now forced the Vietnamese authorities to stop Repsol drilling in the block. Some reports suggest that China, rather than attacking an internationally owned drilling rig, had instead threatened to attack Vietnamese outposts in the Spratly Islands if drilling did not stop. The rig is understood to have drilled one well plus a sidetrack but is now [...]

2407, 2017

Repsol’s Vietnam Tender Has Closed

Repsol’s tender for a floater to drill 5 wells plus 8 option wells in Blocks 135 and 136/03, which contain the Ca Rong Do field, has closed. The 216 day firm program is due to commence in March 2018 in 800-1000m water depths. The options, if all exercised would add another 258 days to the duration. Repsol currently have Odfjell UDW drillship Deepsea Metro 1 on charter until December with options until February 2018.

1107, 2017

Repsol Vietnam Drilling in Disputed Waters

Odfjell UDW drillship Deepsea Metro 1, on charter to Repsol in Vietnam, is actually drilling in disputed waters in Vietnamese Block 136-03 which is called Wan-an Bei 21 by China who also claim the area some 400km off the Viet-namese coast in the South China Sea. This explains the secrecy that has surrounded this charter. Apparently Talisman/Repsol were denied permission to drill over the last three years to avoid upsetting China but Hanoi has now given permission for them to pro-ceed. On the Chinese side this same block is leased to a Hong Kong company, Brightoil, two of whose direc-tors [...]

3006, 2017

Deepsea Metro 1 Has Mobilized For Repsol Vietnam

Odfjell UDW drillship Deepsea Metro 1 has begun its 2-well plus an option well plus 3 optional side-tracks charter with Repsol in Block 135/03 offshore Vietnam. The firm contract is 150 days which will take the rig up to December with options into February or March 2018 if exercised.

2406, 2017

Repsol Due To Award Jackup Tender

Repsol have completed their tender evaluation for their two jackup requirement each for a 1+1 year term for the Kinabalu Oil Block offshore Sabah and the Bunga Pakma field in CAA PM3 between Malaysia and Vietnam and now await Petronas approval before awarding the winners. Repsol restricted bidding to Malaysian contractors for the Kinabalu requirement and to Malaysian and Vietnamese contractors for the CAA PM3 requirement and back in December last year when they went out for bid they had a plethora of available rigs that met their criteria. However the market in Malaysia has tightened up considerably since then [...]

2006, 2017

Repsol Vietnam Issues Floater Tender

After checking out the market for a floater back in May Repsol in Vietnam have now issued a tender for a 5 well plus 8 well options drilling program in the Ca Rong Do field in Blocks 135 and 136/03, a program first mooted in early 2016. The firm term is expected to be around 216 days with the op-tions taking up a further 258 days. Commencement is Q1 or Q2 2018 with water depths between 800-1,000m. Repsol currently have UDW drillship Deepsea Metro I on charter working in Block 135//03 until December, a good fit for the forthcoming program.

806, 2017

Repsol Malaysia Adopts New Tender Negotiation Strategy

Repsol are putting into practice a new strategy for tender negotiation outlined by Petronas for their tender for two jackups for a 1+1 year charter each for their Kinabalu Oil Block PSC in Sabah and for the Bunga Pakma field in CAA PM3 which crosses the border into Vietnam. No longer do they just award to the lowest bidder but enter into multi party negotiations with all bidders which sort of defeats the purpose of closed bids. Repsol have duly called in bidders, UMW, Perisai and PV Drilling to whom the tender was restricted, and asked them to resubmit revised [...]

106, 2017

Repsol Vietnam Sourcing a Mid-Water Floater

Repsol in Vietnam have returned to the market sourcing availability of a mid water floater for a drilling campaign in its Ca Rong Do field in Blocks 135 and 136/03. The workscope is 5 firm wells totaling 293 days work and potentially 8 options which if all exercised would take up 258 days. Commencement is scheduled for May 2018 and the operators is set to issue a pre-qualification document shortly. Repsol had been to the market for this requirement, first mooted in 2015 and an RFI issued in early 2016 but it had not progressed beyond the RFI. The operator [...]

106, 2017

Odfjell Secures Deepwater Contract in Vietnam

Odfjell have now finalized a contract with an operator in Vietnam, widely believed to be Repsol in the Ca Rong Do field, for a 2 well plus options for a further well and for 3 sidetracks. They had announced receipt of an LOI back in March for UDW drillship Deepsea Metro I. The firm period is expected to last 150 days and commencement is likely to be mid June. The rig is already in Vietnam.

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