Westwood Global Energy Group data released March 1 show Petrobras controls 36 of Brazil’s 49 offshore rigs, signifying its dominance in the country’s offshore sector.
According to Westwood’s comprehensive analysis, Brazil’s offshore drilling market indicates “a strong pipeline of demand through 2029,” with 5,472 minimum rig days identified across prospects and tenders between 2026 and 2029.
Outstanding requirements are weighed toward firm tenders. In 2026, all 1,850 minimum days are tied to tenders. In 2027, demand rises to 2,412 minimum days, including 2,262 tender days and 150 prospect days. Activity moderates in later years, with 700 minimum prospect days projected for 2028 and 510 in 2029. Prospects account for 1,360 minimum days over the four years, while tenders represent 4,112 days.
The current rig count stands at 49 units. Of these, 33 are actively drilling, seven are in shipyards, four are undergoing workovers, four are warm stacked, and one is cold stacked.
Rig count
By operator, Petrobras’ 36 rigs include 25 drilling units, five in shipyards, three under workover, and three warm stacked.
Equinor operates five rigs, with four drilling and one in a shipyard. PRIO has two rigs, both drilling. Trident Energy holds two rigs, one drilling and one under workover. Brava Energia operates one drilling rig, while Karoon Energy has one rig in a shipyard.
Meanwhile, two rigs have no designated operator: one is warm-stacked, and the other is cold-stacked.
Westwood Global Energy Group further revealed that, by rig type, drillships account for 27 units, including 21 actively drilling and six in shipyards. Platform rigs total 10 units, with six drilling, one under workover, and three warm stacked. Semisubmersibles number nine, comprising six drilling, one in a shipyard, one under workover, and one warm stacked. Jackups represent three units: two under workover and one cold-stacked.
Brazil remains the largest floating production, storage and offloading (FPSO) vessel market in the region. Around 70% of all newbuild FPSOs contracted in South America over the past five years were allocated to Brazilian projects. Petrobras-operated fields accounted for 11 of these units, while Equinor secured FPSOs for its Raia and Bacalhau developments.
