Etesco Celebrates Extension of Drilling Contract With Brazilian Oil Giant

Written by Flavia Marinho

Published on 16/07/2021 at 16:37

Updated on 16/07/2021 at 18:16

Sonda Etesco / imagem Etesco

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The Etesco Takatsugu J – NS38 Rig Was Recontracted by Brazil’s Largest Oil Company, Petrobras, and Its Contract Was Extended for Another 3 Years

Etesco Drilling Services is celebrating a three-year contract extension with Petrobras for the Etesco Takatsugu J drilling rig, built in 2011. The contract, which was set to expire in April 2022, has been extended until April 2025.

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The daily rate for the rig during this extension will be reduced to around US$ 230,000, according to Petróleo Hoje. Initially, Petrobras was paying US$ 460,000 per day, according to VesselsValue, but reduced the contract amount to US$ 330,000 per day after negotiations began in the second half of 2020.

The agreement was signed earlier this month and will see the rig operate exclusively on the Búzios project during the extension period. The Etesco Takatsugu J has been operating with Petrobras since February 2012. It is currently the only rig operated by Etesco in Brazil.

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Etesco Announcement

“We are pleased to announce that the Etesco Takatsugu J – NS38 rig has been recontracted by Petrobras and its contract has been extended for another 3 years.
The contract that was set to expire in April 2022 has been renewed until April 2025″, said the company on its social media.

“Etesco thanks all collaborators for this achievement and relies on the hard work of everyone for this new challenge of keeping the Etesco Takatsugu J – NS38 among the best rigs in the country”, Etesco concludes.

Etesco Celebrates Extension of Drilling Contract With Brazilian Oil Giant

The Etesco Takatsugu J – NS38 Rig Was Recontracted by Brazil’s Largest Oil Company, Petrobras, and Its Contract Was Extended for Another 3 Years

Read Also

Etesco Announcement

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Etesco Celebrates Extension of Drilling Contract With Brazilian Oil Giant

The Etesco Takatsugu J – NS38 Rig Was Recontracted by Brazil’s Largest Oil Company, Petrobras, and Its Contract Was Extended for Another 3 Years

Read Also

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