US drilling giant Noble Corporation has won its first contract with Petrobras in nearly a decade, as the Brazilian state-controlled company continues to replenish its rig fleet at a time dayrates are approaching the $500,000-threshold.

Petrobras agreed to charter the Noble drillship Noble Faye Kozack for two and a half years for a price tag of approximately $500 million, including a mobilisation fee and additional services.

The rig is expected to begin its contract in the fourth quarter of 2023 and will operate exclusively in Block BM-S-11 in the Santos basin offshore Brazil, which includes the Tupi, Berbigao and Sururu pre-salt fields.