Seadrill Limited (Seadrill) announced the ultra-deepwater drillship, West Jupiter, was awarded a 1,095-day contract in Brazil following a competitive tender process. The contract, awarded by Petrobras), will contribute approximately $493 million to Seadrill’s order backlog, including additional services and excluding a mobilization fee of $31.5 million. The program is expected to commence in the first quarter of 2026.
“Seadrill is pleased to have successfully re-contracted the West Jupiter with Petrobras. We were recognized as ‘Drilling Contractor of the Year’ by Petrobras earlier in 2024 and we look forward to continuing our successful relationship with this key customer,” said President and Chief Executive Officer, Simon Johnson. “With six drillships in Brazil, Seadrill is well-positioned in a resilient deepwater market with industry leading contract durations providing unparalleled visibility to Seadrill’s future earnings profile.”
About Seadrill
Seadrill (NYSE: SDRL) is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies.
About Petrobras
Petrobras has upwards of 100 production platforms, 16 refineries, 30,000 kilometers of pipelines and more than 6,000 service stations. Our proved reserves are around 14 billion barrels of oil, a figure expected to double in the next few years. With the discovery of oil and gas in the pre-salt region, Brazil may become the world's fourth biggest oil producer in 2030.
We have built a track record of overcoming challenges since 1953, when the company was created. The main one was developing technology to explore and produce oil in deep and ultra-deep waters, where upwards of 90% of our reserves are nestled. With innovation and daringness, we are now the Brazilian company that makes the applies for the most patents in Brazil and abroad.
Based on this discovery, with a substantial volumetric potential for natural gas, the social/environmental and licensing procedures required to carry the gas to consumer centers will begin.
Petrobras reaffirms its commitment to conducting operations in Colombia, working safely, respecting life, people, and the environment, and acknowledging the importance of talks with the local communities and compliance with the country's legal requirements.