Seadrill secures US$1.1 billion in contracts with Petrobras for drillships in Brazil

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Offshore drilling giant Seadrill Limited has clinched fixed-term contracts from Petrobras, Brazil’s state-controlled oil company, for its drillships, West Auriga and West Polaris. 

These contracts, acquired through a rigorous competitive bidding process, have a duration of 1,064 days and are slated to commence in the fourth quarter of 2024.

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The combined value of these contracts for both drillships stands at an estimated US$1.1 billion, encompassing additional services and mobilization fees. 

Ahead of commencing operations with Petrobras, both the West Auriga and West Polaris will transition to Seadrill from their current third-party managers.

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Seadrill’s President and Chief Executive Officer, Simon Johnson, remarked, “We are pleased to have secured long-term contracts for the West Auriga and West Polaris, adding to our existing fleet of high-specification drillships operating in Brazil. Petrobras is an important and longstanding customer for Seadrill, and we are excited to expand our contractual relationship with them and increase our rig count in this key geography.”

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