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Foresea Expands Operations with New Contract for the Norbe IX Drillship, Achieves Backlog of US$ 1.7 Billion and Celebrates 2024 Results.
The Foresea has announced the acquisition of a new three-year contract for the Norbe IX drillship, reinforcing its operations in the offshore drilling sector. The agreement provides for the use of the unit in the Sepia and Atapu fields, in the pre-salt layer of the Santos Basin. With this new partnership, Foresea expands its portfolio of contracts, ensuring continuous operations and strengthening its presence in the market. The company’s backlog now totals US$ 1.7 billion, securing contracts for all its drillships until 2026. The expansion of contracts reinforces Foresea’s commitment to providing efficient and high-performance drilling services.
Financial Results Drive Foresea’s Growth
Foresea also celebrates the results achieved in 2024. The company recorded a 34.2% growth in net revenue, reaching US$ 488 million. The adjusted EBITDA was US$ 183 million, with a margin of 37%. Additionally, operational cash flow exceeded US$ 130 million, reinforcing the company’s financial solidity.
The strong results were driven by increased daily rates of the drillships, reflecting the growing demand for offshore drilling services. Foresea highlighted that the new contracts signed at the end of 2023 and throughout 2024 had a direct impact on revenue growth and the improvement of financial indicators. The company’s net profit during the period was US$ 18 million.
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Operational Efficiency of Drillships
Foresea emphasized the high performance of its drillships throughout 2024. The company recorded an operational uptime of 99% in the second half and an annual average of 97%, the highest rate in the offshore drilling sector.
The fleet of the company consists of the ODN I, ODN II, Norbe VI, Norbe VIII, and Norbe IX drillships.
According to Foresea’s CEO, Rogério Ibrahim, the company continuously invests in modernizing its fleet to ensure maximum performance in drilling operations.
In addition, the company implements new technologies to optimize processes and improve the productivity of its drillships.
About Foresea
The Foresea is a company specialized in offshore drilling solutions, focusing on the chartering and operation of drillships for ultra-deep waters.
Pioneering in Brazil, it was the first in the industry to operate a semi-submersible unit anchored in water depths exceeding 1,000 meters.
Combining experience, cutting-edge technology, and a commitment to safety, the company seeks continuous innovation in the operation of platforms and vessels on a global scale.
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