Latin America is gaining appeal for offshore drilling as the Iran war reshapes market risk views, with Constellation Oil Services Holding SA pointing to Brazil as a stable deepwater market.
Petrobras has extended the offshore Brazil assignment for Valaris DS-4 by 1,064 days. The award adds about $447 million to Valaris backlog and keeps the drillship committed through 2030.
Seadrill has secured a $480 million extension for drillship West Polaris with Petrobras, supporting continued work at Brazil’s Búzios field beyond 2028.
Ventura Offshore has secured two contract extensions with Petrobras for SSV Victoria and Atlantic Zonda, adding about $611 million in backlog and extending drilling activity offshore Brazil.
Constellation Oil Services added about $1.1 billion to backlog after renegotiating three rig contracts with Petrobras, extending work for Brava Star, Gold Star, and Alpha Star through 2028 and 2030.
Petrobras and SBM Offshore have signed a $7.8 billion contract for P80 and P87 FPSOs in Brazil’s Sergipe-Alagoas deepwater project, with each unit designed for 120,000 barrels per day of oil production.
Foresea has started the Petrobras contract for 6th generation drillship Norbe IX, which will work in the Sepia and Atapu fields for about three years.
Fugro has been selected by Petrobras to carry out a geotechnical site investigation for the 18 MW Rio de Janeiro Offshore Wind Pilot Project off São João da Barra.
Belov Engenharia has secured $514.5 million in four-year contracts with Petrobras to supply four SDSVs for offshore inspection and maintenance work in Brazil.
