Transocean wins two extensions with dayrates slashed

Transocean, one of the world’s largest drilling contractors, has won a pair of contract extensions, one in India and the other one in Norway, but with reduced dayrates. 

According to Transocean’s latest fleet status report, its ultra-deepwater drillship, the Dhirubhai Deepwater KG2, has been awarded a contract extension from Reliance for approximately three months offshore India. The contract started on August 15, 2015 and ends on October 15. The dayrate for the drillship has been slashed from $395,000 to $295,000.

Furthermore, Transocean’s semi-submersible drilling rig, the Transocean Barents, has been awarded a one well extension in the Norwegian North Sea with oil major Shell. The contract starts on September 15 and ends on October 15 with at a dayrate reduced from $547,000 to $300,000 ($10 million estimated backlog).


In addition, Transocean reported that one of its ultra-deepwater floaters, the Sedco Express, and four midwater floaters, GSF Rig 135, Actinia, Transocean Searcher, and Transocean Prospect, are idle.

Offshore Energy Today Staff