QGOG and Sete to build semisubmersibles

Queiroz Galvão Óleo e Gás (QGOG) and Sete Brasil signed charter and service agreements for three semisubmersible drilling rigs to be built at the BrasFels shipyard in Brazil. The three rigs, named Urca, Braculay and Mangaratiba are expected to be operational in 2016, 2018, and 2019 respectively.

QGOG teams will be dedicated to each drilling rig and the company will be involved in all stages of the project, starting with the construction of the rigs including engineering and building through commissioning and acceptance.

Petrobras will have a 15 year term on each rig with a 5 year renewal option. This project is part of the 21-rig package signed by Petrobras and Sete.