Brazilian offshore driller Constellation Oil Services has renegotiated three rig contracts with compatriot oil and gas giant Petrobras. The amendments add nearly 10 years of contract extensions for Brava Star, Gold Star, and Alpha Star, strengthening long-term fleet utilisation and cash generation. The amendments resulted in approximately $1.1bn of additional backlog, increasing the company´s backlog by 67% to approximately $2.8bn through 2030. The 2015-built drillship Brava Star was awarded a four-year extension, through December 2030, subject to early termination on the 910th day of the extension. The value of the deal is $569m. The rig is expected to work on the continued development of the Búzios Field. The extension is in direct continuation of the current contract, with no transition period. The contract also includes managed pressure drilling (MPD) equipment upgrade, starting in 2027. The 2009-built drillship Gold Star was awarded an extension for two years and 10 months, through December 2028. The value of the deal is $266m. The extension is in direct continuation of the current contract, with no transition period. The rig deal also includes integrated drill pipe riser services to support well workovers and plug-and-abandonment operations. The 2009-built drillship Alpha Star was awarded an extension for the same length as the one for the Gold Star. The extension will last through December 2028 and add $300m to the backlog. Like the two previous extensions, it will start in direct continuation from the current contract, with no transition period. Additionally, as part of the agreements, Constellation will provide new technologies focused on drill floor personnel safety enhancement for both the Alpha Star and Brava Star. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsBrazil