Offshore drilling contractor Transocean (NYSE: RIG) has announced a new $222 million contract for its drillship Dhirubhai Deepwater KG1 in India.
The contract was signed with state-owned Oil and Natural Gas Corporation, the largest crude oil and natural gas producer in India. Transocean said the 21-month program is expected to commence in the first quarter of 2024 and will contribute an estimated $222 million in backlog, excluding a mobilization fee of $5 million.
Transocean has seen increased demand for its fleet of high-specification semi-submersible rigs and drillships, i.e. “floaters,” as the offshore drilling market continues to rebound. In its Q2 2023 earnings release, the company reported $9.2 billion in contract backlog.
The Dhirubhai Deepwater KG1 is a sixth-generation drillship built in 2009.
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
One of the world's top offshore wind developers, Germany's RWE, has stopped work on its U.S. projects for now in light of recent moves against the industry by the Trump administration, its CEO said in a text published ahead of the firm's annual meeting.
President Donald Trump on Thursday signed an executive order aimed at boosting the deep-sea mining industry, marking his latest attempt to boost U.S. access to nickel, copper and other critical minerals used widely across the economy.
The Department of Interior has implemented a policy change that could significantly boost offshore oil production in the U.S. Gulf, through expanded Downhole Commingling parameters. The policy change from the...
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
