Seadrill Ltd has announced the ultra-deepwater drillship, West Tellus, was awarded a 1095 day contract for the Sépia and Atapu fields in the Santos Basin, offshore Brazil, following a competitive tender process. The contract, awarded by Petrobras, will contribute approximately US$498 million to Seadrill’s order backlog, including additional services and excluding a mobilisation fee of US$41 million. The program is expected to commence in the 1Q26 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.
Additionally, Seadrill announced the ultra-deepwater drillship, West Jupiter , was awarded a 1095 day contract in Brazil following a competitive tender process. The contract, awarded by Petrobras, will contribute approximately US$493 million to Seadrill’s order backlog, including additional services and excluding a mobilization fee of US$31.5 million. The program is expected to commence in the 1Q26.
“This contract and the recently announced award for West Jupiter deepens our relationship with a key customer at the heart of the deepwater market,” said President and Chief Executive Officer, Simon Johnson. “These fixtures provide approximately $1 billion of additional backlog and a meaningful uplift to earnings and free cash flow beginning in 2026.”
Regarding the other contract, Johnson said: “Seadrill is pleased to have successfully re-contracted the West Jupiter with Petrobras. We were recognized as ‘Drilling Contractor of the Year’ by Petrobras earlier in 2024 and we look forward to continuing our successful relationship with this key customer. With six drillships in Brazil, Seadrill is well-positioned in a resilient deepwater market with industry leading contract durations providing unparalleled visibility to Seadrill’s future earnings profile.”
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/18122024/seadrill-announces-brazil-contract-awards-for-west-tellus-and-west-jupiter/
