Seadrill announced the ultra-deepwater drillship, West Polaris, was awarded a 1,095-day contract extension with Petrobras for the Búzios field in the Santos Basin, offshore Brazil.

The additional term adds approximately $480 million in contract backlog and is expected to commence in direct continuation of the current program in January 2028.

Additionally, the current contracted dayrate has been updated as follows:

• April 1, 2026 through March 31, 2027 – $409,200
• April 1, 2027 through January 15, 2028 – $454,700

Seadrill’s President and Chief Executive Officer, Samir Ali, commented, “This award enhances Seadrill’s earnings visibility for a mature asset into the next decade. It provides significant value to both Seadrill and Petrobras, while strengthening our relationship with a valued, long-term partner.”