Constellation announced a new contract with Petrobras for its Alpha Star semisubmersible. The contract, which adds $392 million to the Brazilian driller’s backlog, has a firm duration of 1,095 days plus a mutually agreed option, as provided in the bidding notice, to extend it for the same period. The scope of work includes drilling, completion and workover of wells in water depths of up to 2,400 m. Operations are expected to commence after the rig is released by the contract with 3R Petroleum.
“After the recent award with 3R Petroleum, this new contract consolidates a scenario of multiple years commitment for Alpha Star. It also reinforces the positive market trend of our Industry, especially in Brazil. This new engagement with Petrobras evidences our position as one of its key partners,” said Mr. Rodrigo Ribeiro, CEO of Constellation.