September 20, 2012 / 12:42 AM / in 5 years

OSX and Ocean Rig offering Petrobras new drill ship proposal

RIO DE JANEIRO (Reuters) - Brazilian shipbuilder OSX (OSXB3.SA) and Cyprus’s Ocean Rig OCRG.NFF are presenting a new proposal to build five deepwater drilling rigs for Brazil’s state-led oil company Petrobras (PETR4.SA), a Petrobras director said on Wednesday.

The possible involvement of OSX could avoid a new auction for the five ships after Ocean Rig failed to find shipyards to carry out the contract, Petrobras head of engineering, technology and materials José Figueiredo told reporters.

    Another auction for the drill ship contract could add to delays threatening plans to develop giant oil reserves being discovered in the Santos and Campos offshore basins off the Brazilian coast.

    Figueiredo said OSX and Ocean Rig would present their proposal on Thursday, without saying the value of the contract.

    Petrobras awarded Ocean Rig the contract for five ships in February along with a contract for 21 rigs awarded to Sete Brasil, worth a combined $76.3 billion.

    Reporting by Leila Coimbra; Writing by Brad Haynes; Editing by Muralikumar Anantharaman

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