Constellation secures $1.1 billion in Petrobras contract extensions for three rigs
Constellation secured contract extensions with Petrobras totaling approximately $1.1 billion in additional backlog for three rigs operating offshore Brazil.
The extensions cover the ultra-deepwater drillship Brava Star and the ultra-deepwater semisubmersibles Gold Star and Alpha Star, adding nearly 10 years of combined contract coverage. The agreements increase Constellation’s total backlog by 67% to approximately $2.8 billion through 2030.
Petrobras extended the Brava Star charter by four years through December 2030 for $569 million. The rig will continue development drilling at the Búzios field and will receive a managed pressure drilling equipment upgrade beginning in 2027.
The Gold Star and Alpha Star each received extensions of two years and 10 months through December 2028, contributing $266 million and $300 million in additional backlog, respectively. All three extensions are in direct continuation of the rigs’ current contracts.
