"Petrobras will drive the demand for deep-water rigs but the Brazilian giant should be in no hurry to commit to newbuilding contracts given the excess floater supply through mid-2012, according to ODS-Petrodata’s Gavin Strachan.
Strachan estimated that about 20% of the floaters under construction have not been contracted. The excess supply will allow Petrobras the option to either charter or purchase rigs to meet its drilling requirements, he said..."
BP notches up 18th Block 31 find
"BP has racked up its 18th find at Block 31 in Angola's prolific ultra-deep water play, with the Oberon-1 well.
Oberon-1 lies in the southern sector of Block 31 about 335 kilometres north-west of Luanda and 4.3 kilometres to the north-east of the Dione discovery.
The well was drilled to a total depth of 3622 metres in water depths of 1624 metres... "
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