Transocean secures Petrobras extension for Deepwater Corcovado

Transocean was awarded a 1,156-day contract extension for the Deepwater Corcovado drillship with Petrobras in direct continuation of its current activity, committing the rig through November 2030. The extension is expected to contribute approximately $445 million in incremental backlog.

Prior to the start of the extension period, from 1 April 2026 until the commencement of the new contract in September 2027, a period of approximately 525 days, existing backlog will be reduced by approximately $20 million.

The Deepwater Corcovado is an ultra-deepwater dual-activity drillship of an Enhanced Samsung 10000 design, built by Samsung Heavy Industries in South Korea and delivered in 2011.