Offshore

Seadrill Secures $480 million Petrobras Drillship Extension

Seadrill has secured a $480 million extension for drillship West Polaris with Petrobras, supporting continued work at Brazil’s Búzios field beyond 2028.

West Polaris (Image source: Seadrill)

6, April 2026
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Seadrill has secured a long-term extension for its ultra-deepwater drillship West Polaris, keeping the rig on contract with Petrobras offshore Brazil beyond 2028.

The 1,095-day extension covers continued operations at the Búzios field in the Santos Basin and will begin immediately after the current contract ends in January 2028.

The deal adds about $480 million to Seadrill’s backlog. The company also said day rates for the ongoing program have now been set.

The 2000-built West Polaris will earn $409,200 per day from April 2026 through March 2027. That rate will rise to $454,700 per day from April 2027 until mid-January 2028.

Seadrill chief executive Samir Ali said the award supports longer-term utilization for the rig while reinforcing the company’s relationship with a key client.

Tags: drillship contract, offshore drilling, Petrobras, Seadrill, West Polaris

Editorial Note:
This article was prepared with the assistance of AI tools to enhance clarity and efficiency.
All information has been reviewed and verified by the HMT News editor.

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