Constellation Oil Services Holiday (Constellation) has won a new contract with Petrobras for the deployment of a jackup drilling rig for a P&A campaign in the shallow waters of four Brazilian basins.
The agreement has a total value of US$170mn for P&A work in the Sergipe, Alagoas, Ceará and Potiguar basins being carried out by the Admarine 51 rig. The rig will be run and operated by Constellation, which will have up to 210 days to mobilise the rig from its current location in Bahrain to the Brazilian waters, where it will remain for 1,143 days (over three years) with the option to extend up to 472 days.
Rodrigo Ribeiro, CEO of Constellation, said, “We are excited to announce the signing of this new contract, marking our strategic return to shallow water operations and our entry into a promising market segment. This project is the second third-party owned asset to be operated by Constellation, aligning with our core competencies as Drilling Contractors and playing a vital role in Petrobras' ambitious decommissioning plans. The initiative will progress in stages, commencing with the P&A of a significant number of wells currently connected to these fixed platforms.”
