Transocean wins contracts for two high-specification rigs

Transocean Inc. subsidiaries have been awarded contracts for two high-specification floater rigs, the drillships Deepwater Frontier and Deepwater Pathfinder.

Transocean Inc. subsidiaries have been awarded contracts for two high-specification floater rigs, the drillshipsDeepwater Frontier and Deepwater Pathfinder.

Petrobras has awarded theDeepwater Frontier a 700-day contract for drilling services offshore Brazil.

The contract is expected to begin in March in direct continuation from the rig's current drilling program, also with Petrobras off Brazil. The 700-day contract could generate revenues of up to $101 million.

Marathon Oil Corp. has awarded theDeepwater Pathfinder a 110-day contract for drilling services offshore Nova Scotia in Eastern Canada. The contract starts in May, following the completion of the rig's current drilling program in the US Gulf of Mexico. The 110-day contract could generate revenues of up to $17 million.

03/11/04

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