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Vedder Price is pleased to announce that it represented Constellation Oil Services in connection with new drillship contracts that have been awarded by Petróleo Brasileiro, a state-owned energy company of Brazil.

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Constellation and Petrobras signed contracts for the deployment of two ultra-deepwater rigs as part of the transaction. The contracts involve the Laguna Star, part of Constellation’s fleet, and Tidal Action, a newbuild rig that is constructed at the Hanwha Ocean shipyard in South Korea to be managed by Constellation. In total, the value of the contracts amounts to approximately $1 billion, which includes all mobilization fees, extension options and additional services requested by Petrobras.

The Vedder Price Global Transportation Finance team included Shareholder <a href="/people/hoyoon-nam/">Hoyoon Nam</a> and Associate Erin Gormley in New York, Partner <a href="/people/dylan-potter/">Dylan Potter</a> and Associate <a href="/people/niovi-antoniou/">Niovi Antoniou</a> in London and Associate <a href="/people/kris-podkonski/">Kris Podkonski</a> in Singapore.

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Vedder Price Represents Constellation Oil Services in Connection with Approximately $1 Billion New Drillship Contracts with Petrobras

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