Transocean announces contract extension for Petrobras 10000
![The Petrobas 10000](https://live-drillingcontractor-org.pantheonsite.io/wp-content/uploads/2018/09/Screen-Shot-2018-09-28-at-9.59.32-AM-300x196.png)
Transocean has announced that the ultra-deepwater drillship Petrobras 10000 was awarded a 790-day contract extension offshore Brazil with Petrobras. The contract is extended through October 2021 and includes a blend-and-extend modification to the previous contract dayrate, effective September 2018. The additional net contract backlog is approximately $185 million, including cost escalations.
Additionally, Transocean will receive a 5% royalty per day, totaling approximately $16 million, estimated to be from October 2018 to October 2021 associated with the use in Brazil of the company’s patented dual-activity technology on the Petrobras 10000.