Transocean scoops North Sea awards

  • Business & Finance

Offshore drilling contractor Transocean has been awarded several new contracts for its rigs in the UK North Sea as well as a new contract off Canada.  

According to Transocean’s latest fleet status report on Monday, the 1983-built semi-submersible Sedco 712 has been awarded a 16-well contract in the U.K. sector of the North Sea at an undisclosed dayrate. The rig was hired by Fairfield Energy for operations in the North Sea starting in April 2017 and ending in June 2018.

The rig has also been awarded a one-well contract by ConocoPhillips in the UK sector of the North Sea at an undisclosed dayrate. The contract started in October with the end date set for January 2017.

Hurricane Energy exercised options for the 2009-built semi-sub rig Transocean Spitsbergen in the UK sector of the North Sea at an undisclosed dayrate. The rig is now under a contract until March 2017.

The 2009-built semi-sub rig Transocean Barents has been awarded a 15-month contract with Suncor Energy offshore Canada at a dayrate of $260,000 ($119 million estimated backlog added, excluding mobilization). The contract will start in July 2017 and end in September 2018. The rig was previously idle.

The midwater floaters Transocean Driller, Transocean Winner and Sedco 704 were classified as held for sale. The rigs will be recycled in an environmentally responsible manner.

As reported earlier in October, Transocean got an early termination notice from Reliance Industries in India for the ultra-deepwater drillship Discoverer India. Reliance elected to early terminate the contract effective December 2016, prior to its expiration in January 2021. Estimated backlog associated with the contract cancellation was approximately $760 million, excluding the early termination lump-sum payment of approximately $160 million.

Offshore Energy Today Staff

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