Brazil's state-run oil firm Petroleo Brasileiro (PBR), or Petrobras, has signed an accord with counterpart Turkish Petroleum Corporation to operate an oil-drilling platform in the Black Sea, Petrobras said Monday.
Under the agreement, Petrobras will cede use of the drilling platform Leiv Eiriksson to Turkish Petroleum for exploration activities in the Sinop offshore oil block.
Petrobras expects the rig to arrive in Turkey in late 2009, and drilling operations are seen beginning in the first quarter of 2010.
The Leiv Eiriksson rig was built in 2001 and can drill in water depths of more than 2,000 meters. According to Petrobras, its total drilling capacity is of upwards of 9,000 meters. The rig is 119 meters long, 85 meters wide and can lodge up to 140 people.
Petrobras secured the right to use the drilling unit in the Black Sea for a three-year period after the signing of a drilling-service agreement with Ocean Rig on April 8.
Petrobras began oil production activities in Turkey in February 2006, after successfully bidding to operate in two blocks in the Black Sea. As a result, Petrobras and Tukish Petroleum signed operation agreements that ensured 50% stakes for each company for the exploration and production of blocks 3920 (Kirklareli) and 3922 (Sinop).
Petrobras said it completed seismic studies in the areas in late 2008 and is now beginning the well-drilling phase.