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Petrobras extends BassDrill Beta contract from 2.5 years to more than 4 years

On 10 October 2012 Petrobras exercised its right to extend the contract duration for the BassDrill Beta from the original term of 945 days to 1500 days. The Beta, currently under construction, is set for delivery in August 2013 and will thereafter be immediately mobilized to Brazil where it will commence the drilling campaign on the Papa Terra TLWP.