Foresea adds $465 million to backlog with Petrobras drillship gig

RIO DE JANEIRO, March 26, 2026 – Foresea has secured a long-term contract from Petrobras in Brazil for the ultra-deepwater drillship ODN I, Foresea announced on Tuesday.

The contract will add approximately USD 465 million to Foresea’s backlog, including mobilisation fees.

ODN I will be deployed in the offshore Mero field for an engagement of 1,443 days commencing after its current contract ends in early 2027. The contract includes an early termination option after 1,078 days and an unpriced extension option of 382 days.

Mero field is located in the Libra block and is the third-largest producer in Brazil, with an average output of around 650,000 bopd. It is operated by Petrobras (38.6%) in partnership with TotalEnergies (19.3%), Shell Brasil (19.3%), CNPC (9.65%), CNOOC (9.65%) and Pré-Sal Petróleo S.A (3.5%).

Foresea is a pure-play drilling contractor specialising in ultra-deepwater projects. The company owns a fleet of five drillships and semisubmersible rigs, plus a managed fleet of five additional rigs. It offers drilling services to oil companies, as well as chartering, rig operation and management services for third-party fleets.

Photo courtesy of Foresea

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