Discoverer India. Photo credit: MarineTraffic/Joellee
Offshore drilling contractor Transocean says it has received a notice for the early termination of the contract for its ultra-deepwater drillship Discoverer India.
Transocean announced Monday that its customer Reliance Industries Ltd. (Reliance) has elected to exercise its contractual option to terminate the contract for the drillship effective December 2016 prior to its expiration in January 2021. The company said that in accordance with the contract, Transocean will paid a lump-sum payment of approximately $160 million.
Discoverer India was built by DSME in South Korea and can operate in water depths up to 12,000 feet.
Also on Monday Transocean said it has been awarded a 15-month contract from Suncor Energy for the Transocean Barents, a harsh-environment, ultra-deepwater floater. The contract has a day rate of $260,000 and total value excluding mobilization, of $119 million. The rig is expected to commence operations offshore Canada in the third quarter of 2017.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,495 members that receive our newsletter.
Have a news tip? Let us know.
By Julian Lee (Bloomberg) Moscow’s use of the tankers sanctioned for their involvement in the Russian oil trade is accelerating, with close to one-third of the blacklisted vessels back at work....
By Gautam Naik (Bloomberg) After fearing the worst from Hurricane Milton, investors in catastrophe bonds appear to have sustained losses well below those predicted as recently as Wednesday. Estimates that had...
Oct 8 (Reuters) – Former Amazon.com Consumer CEO Dave Clark said on Tuesday his new software supply chain management startup Auger has raised over $100 million in private equity funding from Oak HC/FT and...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,495 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
