Petrobras Extends Another Drillship Contract – Etesco

(PetroleoHoje) After extending the charter period for the Petrobras 10.000 drillship, Petrobras extended the contract for the drillship Etesco Takatsugu J with Etesco for another three years. The deadline, which would expire in April 2022, was extended until April 2025.

The rig’s daily rate during this extension period will be reduced to around US$ 230,000. Initially, Etesco Takatsugo J was contracted for US$ 440 thousand/day, but the contract value was cut to US$ 330,000/day, after negotiations started in the second half of 2020.

The agreement between Petrobras and Etesco was signed in early July. During the extension period, Etesco Takatsugu J will operate with exclusive dedication to the Buzios project.

Able to operate in a water depth of 3,000 meters, the drillship Etesco Takatsugu J was contracted by Petrobras between 2008 and 2009, having started operation in 2012. At the time, the oil company had the expressive  portfolio of nearly 120 rigs under contract.

Currently, the Etesco Takatsugu J is the only vessel operated by Etesco in Brazil. In the past, the Brazilian company maintained other rig charter contracts with Petrobras, operating the drillship Aban Abraham and the light work over rig Etesco Interventor.

The Brazilian group invested in the Sete Brasil project willing to take over part of the rigs in the contract signed with Petrobras, but later gave up on the venture.

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