Petrobras has let a contract to Valaris Ltd. for drillship VALARIS DS-4 for upcoming work at Buzios field in the Santos basin presalt, offshore Brazil.
The contract’s term is for 1,064 days and is valued at about $519 million, inclusive of mobilization fees and additional services, Valaris said in a release.
Upon completion of its current contract, the rig is expected to be out of service for about 90 days to complete customer-required capital upgrades prior to commencement of the new contract. The new contract will start late in fourth-quarter 2024 and is expected to finish in September 2024.
Petrobras continues to develop Búzios. Mid-2023, the operator started production from its fifth phase of oil field development (OGJ Online, June 2, 2023).
