Join our crew and become one of the 107,047 members that receive our newsletter.

Transocean Barents offshore drill rig at sea. Photo courtesy Transocean

Transocean Barents photo courtesy Transocean

Transocean Secures Offshore Drilling Contract in Black Sea at $465,000 Per Day

Mike Schuler
Total Views: 4360
December 12, 2023

Offshore drilling contractor Transocean Ltd. (NYSE: RIG) has announced a significant contract for its harsh-environment drilling rig, Transocean Barents, in the Romanian sector of the Black Sea. The contract, with OMV Petrom S.A., spans a minimum of 540 days and comes at a rate of $465,000 per day, excluding additional services.

The program is expected to commence in the first quarter of 2025 and will contribute approximately $251 million to Transocean’s backlog.

For each day beyond the initial 540 days, the operating dayrate will be $480,000. The contract also includes two option periods.

Transocean’s contract backlog received a significant boost in the third quarter, with an addition of $745 million. This brought the company’s backlog to approximately $9.4 billion, highlighting the continued demand for offshore drilling rigs, especially high-spec ultra-deepwater and harsh environment units.

The Transocean Barents is a harsh-environment dual-activity semi-submersible. The rig was built in 2009 and can operated in water depths up to 10,000 feet and drill to 30,000 feet.

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 107,047 members delivered daily straight to your inbox.

gCaptain’s full coverage of the maritime shipping industry, including containerships, tankers, dry bulk, LNG, breakbulk and more.