Hanwha wins first contract for Tidal Action

In conjunction with Constellation, Hanwha has won its first contract for the Tidal Action worth approximately $500 million. The drillship is being reactivated in the Hanwha Ocean shipyard and will commence operations for Petrobras in Q3 2025. It will be deployed to the Roncador field in the Campos Basin offshore of Brazil.

This contract will be for 30 months plus some optional periods. Tidal Action will be managed by Constellation.