DIAMOND Offshore Drilling has secured three term drilling contracts from Petrobras that are expected to generate combined maximum total revenue of about $1.4billion, excluding potential performance bonus payments and any potential contract extensions. This represents at least 11 years of contract drilling backlog, according to Diamond. The dynamically-positioned ultra-deepwater semi-submersible, Ocean Valor, has a three-year deal worth about $493million and preparations were under way early-March to mobilise the rig from Singapore to Brazil in time for drilling to being this summer. There is a two-year option to extend the contract.
