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Four Japanese Partners Deliver Ultra-Deepwater Drillship to Petrobras
 

Tokyo, May 17, 2012 (JCN) - NYK Line, Mitsui & Co., K Line and Japan Drilling are participating in an ownership consortium for an ultra-deepwater drillship being used in the provision of charter services to Petrobras, the Brazilian state-owned petroleum company.

Named"Etesco Takatsugu J," the drillship is the most advanced of its type in the world. It is capable of drilling in water depths of 10,000 feet (3,000 meters) and down to 30,000 feet (9,000 meters) below the seabed.

The drillship is owned by Etesco DrillingServices, LLC, established in the US with the Japanese companies holding equity stakes totaling over 85 percent. Etesco Drilling Services will provide vessel charter services to Petrobras for up to 20 years.

The first well will be drilled in theFranco SW block in water approximately 2,000 meters deep about 200 kilometers off Rio de Janeiro. The area is located in pre-salt fields in which Petrobras holds an interest.

There are many large oil and gas fields in pre-salt areas in Braziliancoastal waters, and there is worldwide interest in these massive deposits. The region has potential for further development and is a priority area for Petrobras.

Delivered on December 15, 2011, the vessel arrived at the drilling area in Brazil onFebruary 4, 2012, and has been under charter to Petrobras since April 25.

By Saroj Shrestha Staff Writer

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