Seadrill Limited has been awarded two contracts by Petrobras for the ultra-deepwater drillships West Tellus and West Jupiter. These fixtures provide to the company around $1bn of additional backlog.
The company has secured employment for the ultra-deepwater drillship unit West Tellus in the Santos Basin. The unit has been awarded a 1,095-day contract for the Sépia and Atapu fields in the Santos Basin, offshore Brazil, following a competitive tender process.
The contract, awarded by Petrobras, will contribute around $498m to Seadrill’s order backlog, including additional services and excluding a mobilization fee of $41m.
The program is expected to start in the first quarter of 2026, and includes an optional period of up to 305 additional days.
Petrobras holds a 65.7% stake in the shared Atapu field, a 55.3% stake in the shared Sépia field and is the Operator in both areas.
“This contract and the recently announced award for West Jupiter deepens our relationship with a key customer at the heart of the deepwater market,” said president and chief executive officer, Simon Johnson. “These fixtures provide approximately $1 billion of additional backlog and a meaningful uplift to earnings and free cash flow beginning in 2026.”
Seadrill also announced that the ultra-deepwater drillship, West Jupiter, was awarded a 1,095-day contract in Brazil following a competitive tender process.
The contract, awarded by Petrobras, will contribute approximately $493m to Seadrill’s order backlog, including additional services and excluding a mobilization fee of $31.5m.
The program is expected to start in the first quarter of 2026.
“Seadrill is pleased to have successfully re-contracted the West Jupiter with Petrobras. We were recognized as ‘Drilling Contractor of the Year’ by Petrobras earlier in 2024 and we look forward to continuing our successful relationship with this key customer,” said Simon Johnson.
