Petrobras awards Foresea long-term drillship contract for Mero field offshore Brazil

(WO) - Foresea has secured a long-term contract with Petrobras to operate the ultra-deepwater drillship ODN I offshore Brazil, adding approximately $465 million to the company’s backlog.

The contract, awarded following a competitive tender process, covers a 1,443-day campaign supporting development activity in the Mero field, part of Brazil’s prolific pre-salt basin. Operations are expected to begin in early 2027 after completion of the rig’s current contract and preparatory work.

The agreement includes an early termination option after 1,078 days, as well as an unpriced extension of up to 382 days, providing additional flexibility for both parties.

The award underscores continued demand for high-specification ultra-deepwater rigs in Brazil, where Petrobras is advancing large-scale offshore developments to sustain production growth. The Mero field remains a key component of the company’s long-term output strategy.

Foresea said the contract strengthens its revenue visibility and backlog profile, supporting more predictable financial performance over the coming years.

The ODN I is part of Foresea’s fleet of ultra-deepwater drillships designed for complex offshore operations, where high uptime and operational efficiency are critical.

The contract also reflects Petrobras’ ongoing focus on securing long-duration rig capacity to support drilling campaigns in the pre-salt, one of the world’s most active deepwater regions.