Switzerland-based offshore driller Transocean has secured more work in Brazil, with Petrobras extending the contract for its ultra-deepwater drillship Deepwater Corcovado. The 1,156-day extension will run in direct continuation of the rig’s current programme and is expected to add about $445m in backlog, keeping the unit busy through November 2030. There is, however, a short-term adjustment. The New York-listed firm said the existing backlog will be reduced by around $20m between April 2026 and the start of the new contract in September 2027, reflecting updated terms ahead of the extension period. The award adds to a broader run of fixtures for Transocean. Earlier this month, the company secured a series of contracts and extensions worth close to $1bn, reinforcing visibility across its fleet and tightening its position in key offshore basins, including Brazil and the North Sea. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsBrazil Switzerland