ONGC signs for Transocean rig

Oil and Natural Gas Corporation Ltd. of India has awarded the ultra-deepwater drillship Discoverer Seven Seas a three-year contract for drilling operations offshore India.

Offshore staff

(India) - Oil and Natural Gas Corporation Ltd. (ONGC) of India has awarded the ultra-deepwater drillshipDiscoverer Seven Seas a three-year contract for drilling operations offshore India.

The drillship is expected to complete its current three-year contract with ONGC by February 2007 and commence the new contract by the end of May 2007, following an estimated 90-day planned shipyard program.

Revenues of approximately $345 million could be generated over the three-year contract period, excluding revenues for comprehensive services that include well planning, operations support and logistics management.

TheDiscoverer Seven Seas is one of 32 high-specification rigs in the Transocean Inc. fleet, 13 of which are fifth-generation deepwater floaters. The rig can operate in water depths of up to 7,000 ft.

10/11/05

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