Offshore drilling contractor Transocean has secured a contract extension for its Deepwater Corcovado drillship with Petrobras, adding about $445 million in backlog.
The 1,156-day extension will begin in direct continuation of the rig’s current activity and is expected to keep the vessel working through November 2030.
Prior to the start of the new contract period in September 2027, Transocean said its existing backlog will be reduced by about $20 million between April 2026 and the start of the extension.
Deepwater Corcovado was built in 2011 by Samsung Heavy Industries in South Korea. It features an Enhanced Samsung 10000 design, and is able to accommodate 205 people.
Transocean is a provider of offshore contract drilling services focused on ultra-deepwater and harsh environment operations, with a fleet of 27 mobile offshore drilling units, including 20 ultra-deepwater floaters and seven harsh environment units.