Ventura Offshore has won two contract extensions with Petrobras for offshore drilling units operating in Brazil, increasing backlog and extending work for SSV Victoria and Atlantic Zonda.
The longer award covers SSV Victoria, which received a 1,455-day firm extension to its current contract. The new period starts in January 2027 after a docking program for a special periodic survey, five-year maintenance and installation of an MPD system. The rig is set to work at the Búzios field in the Santos Basin. The contract includes a unilateral termination option for Petrobras from day 910 of the extension period. The extension adds about $466 million to the backlog.
Atlantic Zonda, which Ventura Offshore manages for Eldorado Drilling, received a 365-day extension that keeps the drillship working until at least Q2 2029. A reduced day rate will apply until Q2 2028. For the final year, the original contract day rates, adjusted under the contract, will be restored. The one-year extension and day rate adjustment add about $145 million to backlog. A further extension option of up to two years remains available by mutual agreement.
In addition to the backlog contribution from SSV Victoria, Ventura Offshore will also receive operating fees linked to Atlantic Zonda’s added contract backlog.
Chief executive Guilherme Coelho said the agreements followed constructive discussions with Petrobras and reflected both companies’ commitment to a long-term partnership. He added that the extensions also improve backlog visibility and support planning in the coming years.
The company said the special periodic survey, five-year maintenance and MPD installation for SSV Victoria are expected to require total capital expenditure of $78 million to $81 million. A significant share of that amount is expected to be payable after the contract starts.
Ventura Offshore also said preparations for DS Carolina under its 911-day firm contract with Petrobras for the Sépia Atapu field offshore Brazil will require a similar docking program for a special periodic survey and five-year maintenance. The estimated total expenditure, net of mobilisation fee, is $27 million to $30 million, of which $6.5 million has already been disbursed.
The company also plans to spend up to $19 million on additional spare parts for its rig fleet to support operational performance and uptime after new contracts begin.
SSV Victoria, a sixth-generation ultra-deepwater DP semi-submersible, can operate in water depths of up to about 3,048 m and has drilling depth capacity of up to about 12,192 m. Atlantic Zonda, a seventh-generation ultra-deepwater DP drillship, can work in water depths of up to about 3,658 m and also has drilling depth capacity of up to about 12,192 m.
Ventura Offshore owns and operates one drillship, DS Carolina, and two semi-submersible rigs, SSV Victoria and SSV Catarina. It also manages one drillship, DS Zonda.
