Constellation Completes Contract Renegotiation with Petrobras,Adding US$1.1 Billion to Backlog

NewTimeSpace · 2026/04/02 15:20 · By Boyuan Chen

Exchange, Constellation successfully completed contract renegotiations with Petrobras, securing nearly 10 years of extensions across three drilling rigs and adding approximately US$1.1 billion to its backlog, increasing total backlog to approximately US$2.8 billion, a 67% increase.

NewTimeSpace News: On April 2, 2026, Constellation announced the successful conclusion of contract renegotiations with Petrobras. Through a "blend-and-extend" framework, the three drilling rigs—Brava Star, Gold Star, and Alpha Star—secured a total of nearly 10 years of extensions, adding approximately US$1.1 billion to backlog, bringing the Company's total backlog to approximately US$2.8 billion through 2030.

According to the announcement, the specific extensions are as follows: Brava Star extended by 4 years (adding US$569 million), Gold Star extended by 2 years and 10 months (adding US$266 million), and Alpha Star extended by 2 years and 10 months (adding US$300 million).

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Constellation Petrobras cooperation