Join our crew and become one of the 109,808 members that receive our newsletter.

Transocean Reveals $222 Million Drillship Contract in India

Mike Schuler
Total Views: 2268
August 30, 2023

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.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up
close

JOIN OUR CREW

Maritime and offshore news trusted by our 109,808 members delivered daily straight to your inbox.