A Review of the Nigerian Energy Industry

Petrobras 10000 gains extension offshore Brazil

01 October 2018, News Wires — Petrobras has awarded the Transocean ultra-deepwater drillship Petrobras 10000 a 790-day contract extension offshore Brazil.

The contract is extended through October 2021 and includes a blend and extend modification to the previous contract day rate, effective September 2018. The additional net contract backlog is about $185 million, including cost escalations.

Additionally, Transocean will receive a 5% royalty per day, totaling approximately $16 million, estimated to be from October 2018 to October 2021 associated with the use in Brazil of the company’s patented dual-activity technology on the Petrobras 10000.

  • Offshore
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