One of Constellation’s stars nets $61m worth of work from
Constellation Oil Services Secures Major Contract Extensions
Brazilian offshore driller Constellation Oil Services has recently announced significant contract extensions with Petrobras, solidifying its position in the competitive oil drilling sector. The company has successfully extended its contract for the semi-submersible drilling rig, Atlantic Star, and has also secured a substantial deal for its drillship, Amaralina Star. These developments not only enhance Constellation’s operational capabilities but also contribute to job creation in Brazil, showcasing the company’s commitment to local employment.
Contract Extension for Atlantic Star
Constellation Oil Services has received an extension for its contract with Petrobras for the Atlantic Star, a semi-submersible drilling rig. This extension is for an additional period of up to 301 days and is valued at approximately $61 million. The Atlantic Star, built in 1976, is primarily used for plug and abandonment operations in the Congro, Malhado, and Albacora fields located in the Campos Basin. During the extension period, the rig will continue to provide these essential services, ensuring that Petrobras can maintain its operational efficiency in these critical areas.
The Atlantic Star’s role is vital in the Campos Basin, a region known for its rich oil reserves. By extending this contract, Constellation Oil Services not only secures revenue for the company but also reinforces its long-standing relationship with Petrobras. This partnership is crucial for both entities as they navigate the complexities of offshore drilling in Brazil. The extension also highlights the importance of maintaining a reliable fleet of drilling rigs to meet the demands of the oil industry, especially in a time when energy resources are increasingly sought after.
New Opportunities with Amaralina Star
In addition to the Atlantic Star contract extension, Constellation Oil Services has also secured a significant three-year deal worth $528 million for its 2012-built drillship, Amaralina Star. This contract will involve operations in remote areas of frontier exploration, including the Equatorial Margin and Pelotas Basin. These regions are known for their potential oil reserves, making this contract a strategic move for Constellation as it expands its operational footprint in Brazil.
The Amaralina Star will play a crucial role in exploring these frontier areas, which are essential for the future growth of Brazil’s oil production. The contract not only promises substantial revenue for Constellation but also emphasizes the company’s commitment to advancing exploration efforts in less accessible regions. CEO Rodrigo Ribeiro expressed optimism about the contract extensions, stating that they bring substantial backlog to the fleet and secure approximately 170 direct jobs, all staffed by Brazilian workers. This focus on local employment underscores Constellation’s dedication to contributing positively to the Brazilian economy while enhancing its operational capabilities in the offshore drilling sector.
