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Seadrill Limited Won Two Contracts Worth US$ 549 Million from Petrobras for the West Carina and West Tellus Drilling Rigs, Which Will Operate in the Búzios Field
Yesterday, the offshore drilling specialist Seadrill announced the winning of two multi-million dollar contracts with Petrobras for work at the Búzios field. The two contracts, worth US$ 549 million, are for the West Carina and West Tellus platforms, which are expected to start operations in September 2022.
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Stuart Jackson, CEO of Seadrill, commented: “Brazil is a strategically important market for the offshore sector, and I am pleased that Seadrill will continue to play an increasingly significant role in the coming years.”
The total value of the contract for the new contracts is approximately US$ 549 million, including mobilization revenue and additional services.
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Seadrill confirmed that both contracts were signed on a fixed-term basis of three years. The West Carina and West Tellus platforms are expected to start working for Petrobras in September 2022.
Contracted Drilling Vessels
West Carina is a sixth-generation ultradeepwater drilling vessel that was built in 2014. On the other hand, West Tellus was built in 2013 by Samsung Shipyard in South Korea. This is a sixth-generation DP3 drillship rated for 3,600 meters of water depth.
Previously, the company closed an offshore deal for the West Tellus drillship in November 2019, and the contract was scheduled to end in December of this year. However, due to Petrobras’s request for an early termination of the deal, the platform was to be operating for Petrobras until September 2021 at a rate of US$ 211,311 per day.
Seadrill managed to secure a contract for two wells and additional intervention work plus two option wells with Shell Brasil, in direct continuation of Petrobras’s previous contract. Therefore, the duration of the contract with Shell for this drillship is from October 2021 to the end of January 2022.
Offshore Operations in Brazil
Matt Lyne, Executive Vice President, Commercial and Strategy Director of Seadrill, said: “Seadrill has a long history and a successful track record of operating in benign and adverse environments and in strategic basins where we see potential for continued growth, such as offshore Brazil.”
Last week, Seadrill revealed its new board structure, including the former CEO of Noble and CEO of Subsea 7, as the company prepares to emerge from Chapter 11 bankruptcy, which began in February 2021.
The company developed its reorganization plan with its creditors in July 2021 and confirmed the plan on October 26, 2021. The company now aims to emerge in early 2022, unlike previous expectations that this would happen in the fourth quarter of 2021.
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