Transocean Signs Two Contracts Worth $1.04 Billion With Petrobras for the Chartering of Two Offshore Drilling Rigs

The Swiss Company Expands Its Presence in the National Market with Two New Contracts with Petrobras, Recently Signed. Transocean Will Charter Two of Its Offshore Drilling Rigs, the Deepwater Corcovado and the Deepwater Orio.

For this Wednesday, (12/14), the business of the Swiss company Transocean in Brazil is becoming increasingly intensive. The company announced the signing of two new contracts with the largest player in the national oil and gas sector, Petrobras. The agreements are for the chartering of the offshore drilling rigs Deepwater Corcovado and Deepwater Orio. These will move a total of US$ 1.04 billion between the companies, significantly expanding the presence of the Swiss company in Brazil.

Petrobras Signs New Contracts with Transocean for the Chartering of Two of Its Drilling Rigs, the Deepwater Corcovado and Orio

The Swiss company Transocean has been seeking to expand its business in the national market and is now taking advantage of the warming of the offshore sector to secure new ventures in Brazil.

At the beginning of this week, the company announced two major new contracts with Petrobras, totaling over US$ 1.04 billion.

The agreements are for the chartering of two of the most important drilling rigs in the company’s fleet, the Deepwater Corcovado and the Deepwater Orio. They will be under the control of the state-owned oil company in the coming months.

The contracts were signed in a large bidding process held by Petrobras in October. The companies Brasdril, Constellation, Ocyan, and Transocean had their proposals classified in the competition.

The bidding process was launched in the middle of the year and anticipated the hiring of up to eight drilling rigs. The competition was divided into three lots. In the end, Transocean emerged victorious with the two new contracts signed.

The chartering of the drilling rigs Deepwater Corcovado and Deepwater Orio will be essential to expand the presence of the company in Brazil and attract new investors to its services.

New Contracts of the Swiss Company with Petrobras for the Chartering of the Deepwater Corcovado and Orio Will Last Four and Three Years, Respectively

The first of Transocean’s contracts with Petrobras will be for the chartering of the drilling rig Deepwater Corcovado.

It will have a total duration of four years, contributing US$ 583 million to the Swiss company’s business portfolio, starting around the third quarter of 2023.

On the other hand, the contract for the chartering of the Deepwater Orio will have a duration of three years, expanding the Swiss company’s business portfolio by US$ 456 million over the next year.

The start of Petrobras’ chartering for this contract is expected to take place in the fourth quarter of 2023, extending until the end of 2026.

Petrobras has been heavily investing in the chartering of new vessels and aims to leverage the state-of-the-art technology of the ships for its future exploration campaigns.

Learn More About Transocean

Transocean is one of the leading international providers of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business. With a special focus on deepwater and harsh environment drilling services, it believes it operates one of the most versatile offshore drilling fleets in the world.

Transocean owns or has partial ownership in and operates a fleet of 44 mobile offshore drilling units consisting of 30 ultra-deepwater floaters, seven harsh-environment floaters, three deepwater floaters, and four mid-water floaters.