The economic recovery of Brazil’s ultra-deepwater oil and gas market is under way, according to Evercore ISI. In its latest Offshore Rig Market Snapshot (July 2021), the consulting firm noted that three term floater contracts were signed for Brazil over the week ending July 15, with Petrobras renewing two ultra-deepwater drillships and PetroRio taking over an UDW semisubmersible rig later this year.
Overall, Evercore says that 10 floaters have been contracted for Brazil year to date, for almost 17 rig years. Notably four of these floaters were contracted by Petrobras, with the other six contracts going to Karoon Energy (two), Equinor, PetroRio, Shell, and TotalEnergies.
