Constellation Oil Services has renegotiated three rig contracts with Petrobras, adding about $1.1 billion to backlog and securing nearly 10 years of contract extensions across the three units.
The revised agreements cover Brava Star, Gold Star, and Alpha Star. Following the amendments, Constellation Oil Services said its backlog increased 67% to about $2.8 billion through 2030.
The 2015-built Brava Star received a four-year extension through December 2030, with a contract value of $569 million. The extension is subject to early termination on the 910th day. The rig is expected to support the continued development of the Búzios Field. The new term starts immediately after the current contract, with no transition period. The agreement also includes a managed pressure drilling equipment upgrade from 2027.
The 2009-built Gold Star secured an extension of two years and 10 months through December 2028, valued at $266 million. This extension also starts in direct continuation of the current contract, with no transition period. The scope includes integrated drill pipe riser services for well workovers and plug-and-abandonment operations.
The 2009-built Alpha Star was awarded an extension of the same length as Gold Star, running through December 2028 and adding $300 million to the backlog. Like the other two rigs, the extension begins immediately after the current contract ends, with no transition period.
As part of the agreements, Constellation Oil Services will also deploy new technologies aimed at improving drill floor personnel safety on Alpha Star and Brava Star.
