Seadrill has reported a current overall order backlog of $3 billion, while Velesto reported $158.8 million in orders. Meanwhile, last week competitor Noble reported it added $525 million of contracts to its drilling backlog.
Seadrill’s West Polaris drilllship has started a contract with Petrobras offshore Brazil, following a delay caused by commissioning and testing of upgraded equipment.
Another of the company’s vessels, West Neptun, has resumed drilling activities following completion of a planned survey and upgrades. The timeline was impacted by vendor issues and bad weather.
West Jupiter and West Tellus are set to start long-term contracts with Petrobras in Brazil during the first and second quarters of 2026, with a combined value of $1 billion in backlog. The two drillships are now fully booked into 2029. West Auriga started a program for Petrobras in December 2024.
West Vela, having drilled its most recent well ahead of schedule, now has a further 40 days that should keep the rig occupied until September.
Sevan Louisiana will continue working until June for an independent operator in the US Gulf of Mexico.
Seadrill has 75% of available rig days contracted across its marketed and managed rig fleet.
Velesto reports stable APAC outlook for jackup rigs
As of January 2025, Velesto’s order book for its Far East-based jackup rigs is RM709 million (US$158.8 million), the company revealed in its latest results statement.
NAGA 2, NAGA 4 and NAGA 6 are all contracted until first-quarter 2026, while NAGA 3 and NAGA 8 are set to undergo special periodical surveys and maintenance. Negotiations continue with a potential client for NAGA 5, with the rig likely to start work by June.
The near-term outlook for jackup rigs in Malaysia and Southeast Asia remains stable, Velesto added.
