Offshore drilling contractor Constellation has secured two new contracts with Petrobras, worth $1 billion, for the deployment of two ultra-deepwater drillships - Laguna Star, part of Constellation’s fleet, and Tidal Action, a newbuild rig, owned by Hanwha Drilling – at the Roncador field in the Campos Basin.
The contracts are set to enhance local employment by generating a total of 250 new jobs and preserving an additional 250, according to Constellation.
The agreements totalize $1 billion, which includes all mobilization fees, extension option clause and additional services requested by Petrobras.
The Laguna Star and Tidal Action rigs will operate under the contracts for approximately 2.5 years each, starting in the third quarter of 2025.
Laguna Star, currently operating under an existing contract with Petrobras, will complete its current term in the first half of 2025.
Afterward, it will undergo essential adjustments and class inspections before commencing operations under the new agreement.
Tidal Action, previously known as West Libra, represents one of the last high-specification units constructed in the previous rig-building cycle.
This will be the first instance where Constellation operates a third-party owned drillship unit. Tidal Action is being constructed at the Hanwha Ocean shipyard in South Korea, and upon its departure, Hanwha Drilling will become its owner.
The Roncador field, offshore Brazil, is a strategic asset operated by Petrobras, holding a 75% stake, in a consortium with Equinor which holds the remaining 25% working interest.
"We are thrilled with the accomplishment of these two new contracts, which significantly enhance our long-standing partnership with Petrobras. As a global leader in ultra-deepwater rig operations, this partnership solidifies our commitment to delivering exceptional performance," said Rodrigo Ribeiro, CEO of Constellation.
“Given the scope of work and timing, this contract is an ideal fit for the Tidal Action. We are excited to partner with Constellation with its history of operational performance, quality people and excellent relationships with its customers,” added Clay Coan, CEO of Hanwha Drilling.
Laguna Star is a sixth generation ultra-deepwater DP drillship capable of drilling in water depths of up to 10,000 feet and has a drilling depth capacity of up to 40,000 feet.
Tidal Action, a seventh-generation drillship, is designed to operate at water depths up to 3,600 meters and is fully equipped to perform in complex environments, setting new standards for deepwater drilling efficiency and reliability.