HOUSTON -- Petroleo Brasileiro S.A has awarded Pride International contract extensions for the deepwater, dynamically positioned semisubmersible rigs Pride Rio de Janeiro and Pride Portland.
The six-year contract extensions are expected to begin during late 2010 to early 2011. The estimated total contract revenue is $1.5 billion.
The two semisubmersibles have operated offshore Brazil for Petrobras since entering service in 2004. Both units are expected to continue operations in the region throughout the extension period.