Etesco secures drillship contract extension from Petrobras

Etesco Drilling Services has been awarded a three-year contract extension with Petrobras for the 2011-built drillship Etesco Takatsugu J. The contract, which would expire in April 2022, was extended until April 2025.

The drillship’s day rate during this extension will be reduced to around $230,000, according the Brazil’s Petróleo Hoje. Petrobras was initially paying $460,000 per day, according to VesselsValue, but it reduced the value of the contract to $330,000 per day after negotiations commenced in the second half of 2020.

The deal was signed early this month and it should see the drillship operate exclusively on the Buzios project during the extension period. Etesco Takatsugu J has been operating for Petrobras since February 2012. It is currently the only drillship operated by Etesco in Brazil.

Petrobras also recently extended a time charter with Transocean for the 2009-built drillship Petrobras 10000. The deal is for two years, with Petrobras reportedly paying $300,000 per day.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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