A leading supplier of deepwater drilling rigs to Brazil’s national oil company expects The industry will favor oil and gas projects in Latin America, where the geopolitical risk is lower than in the Middle East.
Constellation Oil Services Holding SA recently extended three offshore drilling contracts with Petrobras and is optimistic about the Brazil exploration prospects in other deep water regionsincluding the Equatorial Margin and the Pelotas Basin in southern Brazil, CEO Rodrigo Ribeiro told Bloomberg in an interview.
“Brazil remains the best market in the world for offshore drilling,” Ribeiro said. “South America becomes important, not only because of the quality of its reserves,” but also because It is considered a “more protected and stable” geographic region, he added.
Constellation listed its shares on Oslo last year and plans to pay $25 million in dividends next quarter. a figure that could increase in the future, according to Ribeiro. The company has a fleet of nine drilling rigs in Brazil.
