Transocean Postpones Delivery of Drillship Duo

Owner and operator of mobile offshore drilling units Transocean Ltd. has reached a deal with Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) to delay delivery of two newbuild ultra-deepwater drillships – the Deepwater Pontus and the Deepwater Poseidon – by 12 months each.

The company said that it has also reached a deal with its customer, Shell EP Wells Equipment Wells Services B.V., to delay the operating contracts for the duo for the said period.

“The delay has no impact on the duration or dayrate of the original 10-year operating contracts for each of the two newbuild ultra-deepwater drillships. Parties will be compensated for the postponement. The specific terms are not disclosed,” Transocean said.

As disclosed, the delivery and operating agreements for Shell’s two other contracted Transocean newbuild, ultra-deepwater drillships, the Deepwater Thalassa and Deepwater Proteus, are not impacted by this agreement.

“We are pleased that the strength of our relationships with both Shell and DSME has enabled us to reach this mutual agreement,” said Transocean President and Chief Executive Officer Jeremy Thigpen.

Transocean owns or has partial ownership interests in, and operates a fleet of, 63 mobile offshore drilling units. The company has seven ultra-deepwater drillships and five high-specification jackups under construction.


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