Petrobras has awarded Seadrill an 18-month contract extension for the West Tellus drillship offshore Brazil, commencing in April 2018, and securing work for the unit through the end of October 2019.
The total backlog for the contract extension is approximately US$164 million.
As part of the agreement to extend the West Tellus, Seadrill has agreed to a dayrate reduction on the current contract effective from 26 February, resulting in a $132 million reduction in backlog.
The net effect of this agreement is a $32 million increase in backlog.
Image of the West Tellus, from Seadrill.
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