Seadrill has secured more long-term work in Brazil after Equinor Brasil Energia exercised a one-year priced option for the ultra-deepwater drillship West Saturn.
The New York-listed rig owner said the option adds about $114m to its contract backlog and extends the original deal through to October 2027. The drillship has been working for Equinor offshore Brazil since 2022.
Seadrill president and chief executive Simon Johnson said the extension underlines the strength of the relationship between the two companies in a key offshore market. He pointed to Brazil as a strategically important basin where both sides are focused on safe and reliable operations.
The West Saturn extension comes as Seadrill continues to firm up forward earnings across its fleet. Earlier this month the company picked up fresh contract cover in Malaysia, Norway and Brazil, securing work for several units and improving visibility on revenues.
