Hanwha Drilling, together with Constellation Oil Services Holding S.A., has been awarded the first contract for the development of the Tidal Action field worth approximately US$500 million, according to the company's release.
The drillship is currently being reactivated in the Hanwha Ocean shipyard and will commence operations for Petrobras in the 3rd Quarter of 2025. It will be deployed to the Roncador field in the Campos Basin offshore of Brazil.
This contract will be for 30 months plus some optional periods. Tidal Action will be managed by Constellation.