Seadrill books Petrobras contracts worth $1.1 billion
Written by Nick Blenkey
Seadrill president and CEO Simon Johnson. “We are excited to increase our rig count in this key geography.” [Photo: Seadrill Limited]
In another sign of the uptick in the offshore drilling sector, Brazil’s Petrobras has awarded Seadrill Limited a pair of 1,064-day fixed-term contracts for its drillships West Auriga and West Polaris.
Awarded in a competitive bidding process, the contracts are expected to commence in the fourth quarter of 2024 and represent a total contract value of approximately $1.1 billion, inclusive of additional services and mobilization fees. The Petrobras orders give a significant boost to Seadrill’s order backlog, which, as November 27, 2023, stood at $2.2 billion.
The West Auriga and the West Polaris will transition to Seadrill from the existing third-party managers before undertaking the campaigns with Petrobras.
“We have secured long-term contracts for the West Auriga and the West Polaris alongside our four high-specification drillships already working in Brazil,” said Seadrill president and CEO Simon Johnson. “Petrobras are an important and longstanding customer for Seadrill. We are excited to expand our contractual relationship with them and increase our rig count in this key geography.”
In connection with the contract awards, Seadrill has published an updated fleet status report that can be HERE
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