Brazil Rig Supplier Expects Iran War to Drive Latam Oil Drilling

A leading supplier of deep-water drilling rigs to Brazil’s national oil company expects the industry to favor oil and gas projects in Latin America, where geopolitical risk is lower than the Middle East.

Constellation Oil Services Holding SA recently extended three offshore drilling contracts with Petrobras and is optimistic about Brazil’s exploration prospects in other deep-water regions, including the Equatorial Margin and the Pelotas Basin in southern Brazil, Chief Executive Officer Rodrigo Ribeiro told Bloomberg in an interview.