Constellation secured a new charter contract for Olinda Star. The Brazilian group closed a deal with ONGC, guaranteeing 16 months of chartering, after presenting a best price in the bidding conducted by the oil company.
The two companies signed a letter of intent at the end of January, but the rig should only start operating at the end of March. The work campaign will focus on the east coast of India, where the rig was already operating.
The charter contract between ONGC and Constellation should be signed between February and March. Olinda Star has been operating for ONGC since 2017, and in December the contract was terminated.
For now, the value of the contract between the two companies is kept confidential. Olinda Star will undergo minor adaptations to meet the requirements of the new ONGC contract.
At the end of January, Constellation closed negotiations with Enauta for the charter of Alpha Star. The unit will be responsible for the drilling campaign of the wells of the final system of the Atlanta project, located in the Santos Basin.
The contract with Enauta will enter into force at the end of 2022, covering the drilling of one firm well and two contingent wells. Currently, the unit operates for Petrobras, with a charter contract that will run until the second half of the year.
With the deal with ONGC, Constellation ensures the contracting of all rigs in its portfolio by 2023. The company has eight drilling units, five of which are semi-submersibles (Atlantic Star, Olinda Star, Gold Star, Lone Star and Alpha Star) and three drillships (Brava Star, Laguna Star and Amaralina Star).
The shortest contract rig is Alpha Star.
Brazil Energy Insight 
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