John Fredriksen’s Seadrill has been awarded an extension by Petrobras for drillship West Tellus worth around $164m.
The new contract is for 18 months commencing April 2018, and includes a dayrate reduction on the current contract effective from February 26. The rate reduction sees a $132m reduction in backlog, the net result being just $32m added to Seadrill’s overall backlog.
The drillship has been in operation with Petrobras since the second quarter of 2015.