Petrobras extends contract for two Transocean drillships. The multinational increases its order book by US$ 297 million

Offshore drilling contractor Transocean has secured contract extensions for two of its drillships that are working for Petrobras

Transocean said on Wednesday that Petrobras had exercised a pre-existing 18-day fixed-price option for the Deepwater Corcovado, and a pre-existing 680-day fixed-price option for the Deepwater Mykonos drillship.

Together, these contract extensions add approximately $297 million to Transocean's backlog. Both platforms will continue to operate in Brazil and are subject to escalating annual indexed daily rates. The initial contracts for the two drillships were awarded in March 2019.

Deepwater Corcovado was awarded a 629-day contract, while Mykonos was granted a 550-day contract, plus options that have already been exercised.

The estimated firm contract backlog was approximately $123 million for Corcovado and $118 million for Mykonos.

This is not the first time that the two drillships work in Brazil with Petrobras. Petrobras also used the two drillships in 2012 , while they were still owned by Ocean Rig before it was acquired by Transocean.