Petrobras Hires Seadrill’s Drillship Pair for Brazil Ops
December 30, 2024
Petrobras has awarded contracts to Seadrill’s two ultra-deepwater drillships – West Jupiter and West Tellus – for work offshore Brazil.
West Jupiter has been hired under a 1,095-day contract, following a competitive tender process. The contract will contribute approximately $493 million to Seadrill’s order backlog, including additional services and excluding a mobilization fee of $31.5 million.
The drilling program in Brazil is expected to start in the first quarter of 2026.
Seadrill has also secured secured a 1,095-day contract for its West Tellus drillship, which will be deployed for work at the Sépia and Atapu fields in the Santos Basin.
The contract will boost Seadrill’s backlog with $498 million, including additional services and excluding a mobilization fee of $41 million.
The program is expected to start in the first quarter of 2026 and includes an optional period of up to 305 additional days. Petrobras holds a 65.7% stake in the shared Atapu field, a 55.3% stake in the shared Sépia field and is the Operator in both areas.
“This contract and the recently announced award for West Jupiter deepens our relationship with a key customer at the heart of the deepwater market. These fixtures provide approximately $1 billion of additional backlog and a meaningful uplift to earnings and free cash flow beginning in 2026,” said Simon Johnson, President and Chief Executive Officer of Seadrill.
