Offshore drilling contractor Seadrill has secured a 1,095-day contract extension for the West Polaris drillship with Petrobras offshore Brazil, adding about $480 million to its backlog.
The extension will see the ultra-deepwater drillship continue operations at the Búzios field in the Santos Basin, with the new term expected to begin in January 2028 in direct continuation of the current program.
Seadrill said the contract includes updated day rates, with $409,200 per day applicable from April 1, 2026 through March 31, 2027, and $454,700 per day from April 1, 2027 through January 15, 2028.
"This award enhances Seadrill’s earnings visibility for a mature asset into the next decade. It provides significant value to both Seadrill and Petrobras, while strengthening our relationship with a valued, long-term partner,” said Samir Ali, Seadrill’s President and Chief Executive Officer.
The West Polaris is a sixth generation, dynamically positioned drillship delivered from the Samsung shipyard in South Korea in 2008.
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