Transocean Inc.'s high-specification drillship,Deepwater Frontier, has won a two-year contract from an international oil and gas operator. The company expects the contract to begin in late 3Q or early 4Q 2006. The Deepwater Frontier is now under contract to Petroleo Brasileiro SA in Brazil until next May.
TheDeepwater Frontier is a dynamically positioned, fifth-generation drillship. It is one of 32 high-specification rigs in Transocean's fleet, 13 of which are fifth-generation deepwater floaters. The rig entered active service in 1999 following its construction in Korea and can operate in 10,000 ft water depth.