Petrobras cancels five leased drilling rigs from Ocean Rig
SAO PAULO -- Petrobras said it has canceled plans to hire five drilling rigs from Ocean Rig.
Petrobras said it won' t need as many rigs as it had initially expected, because it won' t have to drill as many wells due to "higher productivity gained through the project wells," Petrobras said in a statement.
The rigs had been slated to operate in the Brazilian subsalt areas, where massive oil reservoirs have been discovered in recent years. The oil is located off Brazil' s southeast coast, beneath deep Atlantic Ocean waters and several km of rock-bed, including a thick layer of salt.
The five Ocean Rig drilling rigs were to be capable of drilling in up to 3,000 m of water, Petrobras said.
Dow Jones Newswires