A

ANP
National Agency of Petroleum, Natural Gas and Biofuels.

B

Base Date
date agreed between the parties for adjustment of contract prices.

Bridge Loan
Short term loan, which will be paid on the date of disbursement of long-term financing, or the end of one year, whichever comes first.

C

CAP – Maximum Cash Flow
Maximum amount payable monthly through measurement.

CL
Local Content.

CMA – Construction Management Agreement
Management and Project Supervision Agreement between Sete Brasil and/or Petrobras Engineering and/or operator to act on behalf of Sete Brasil.

CS – Consultant Shipyard
Shipyard Technical Consultant for Rig construction.

Charter Agreement
Charter Agreement for a given drilling rig with Petrobras.

D

DD
Due Dilligence.

Deviation
Referring to the difference of the physical progress achieved Percentage of schedule.

Designed Local Content
Percentage of Local Content designed with monthly reviews based on initial planning and the actual performance till the moment of measurement.

Downpayment
Initial payment.

DRU
Drilling Rig Unit (Drilling Rig).

Duration
The period between signing the contract and hand over the unit.

E

EAS
Atlântico Sul Shipyard.

ECA
Export Credit Agency.

ENSEADA
Enseada Indútria Naval Shipyard.

EJA
Jurong Aracruz Shipyard.

EKN
Export Credit Norway.

EPC
Engineering, Procurement and Construction.

EPC Agreement
Contract for Engineering, Procurement of materials and equipment and Construction & Commissioning. Refers to contracts with shipyards.

ERG
Rio Grande Shipyard.

E&P
Petrobras Customer, Exploration and Production Area.

F

FGCN
Shipbuilding Guarantee Fund.

FMM
Merchant Marine Fund.

FPSO
Floating Production Storage and Offloading.

G

GIEK
Garanti-instituttet for eksportkreditt (Norway).

G&A
General and Administrative Expense (G&A Expenses).

H

HVAC
Heating, Ventilation and Air Conditioning.

I

ICE
International Contract Engineering (designer).

IFC
International Finance Corporation.

IHI
Ishikawajima-Harima Heavy Industries.

ICPC Project
Índice do cumprimento de prazo contratual do projeto – Média atual da Unidade/Média Contratual de Duração das Sondas.

ICPC Unidade
Index of compliance to project contractual term - Actual Unit mean/Contractual mean of the Rigs’ Service Life.

IN 513
It is establishes how Receita Federal percieves the customs warehousing procedure is not applicable to Drilling ships according to the provisions of Receita Federal Normative Ruling 513/2005.

J

K

Keel Laying
Placing the first building block for the dike.

KHI
Kawasaki Heavy Industries (shipyard).

KOM
Kick off Meeting (Project Opening Meeting).

L

Load-out
Transfer of DRU drill from building area to a raft for later floating.

LOI – Letter of Intent
Charter and its annexes, which formalizes the intention of signing a contract that describes the technical specifications and contractual requirements.

Lower Hull Strike Steel
First plate cutting at the bottom of drilling rig.

M

Mating
Assembly of blocks of lower hull with the upper hull.

N

NS
Drilling ship.

O

ODC – Original Design Company
Company supplier of basic design.

OFE – Owner Furnished Equipment
Equipment to be incorporated into or installed on the Unit as part of the Project during its construction or substantially simultaneously with Handover, the purchase or procurement of which equipment is not included within the scope of the EPC Contractor’s obligations or work under the EPC Contract and is purchased by the Beneficiary.

OWNER
The rig's owner or the operator.

P

PO
Purchase Order.

PROMINP
Mobilization Program of the National Oil and Natural Gas.

P&ID’s
Piping and Instrumentation Diagram.

Q

R

RDS
Designer of Drilling System (designer).

S

Sete Brasil
Sete Brasil Participações S.A.

S&M
Construction and Installation.

SPAR
Single Point Mooring and Reservoir.

SPE
Special Purpose Company.

SS
Semi-submersible Rig.

T

TLP
Tension-Leg Platform.

U

Upper Hull Strike Steel
The first plate cutting from at the top of the drilling rig.

V

W

X

Y

Z

Last updated on 2014-10-01T11:42:09

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