Chevron contracts Transocean ultra-deepwater drillship

Feb. 11, 2019
Transocean Ltd. has provided an update on its offshore drilling rig fleet.

Offshore staff

STEINHAUSEN, SwitzerlandTransocean Ltd. has provided an update on its offshore drilling rig fleet.

On Dec. 5, 2018, the company closed theacquisition of Ocean Rig UDW Inc. The transaction adds eight high-specification ultra-deepwater drillships and two harsh environment semisubmersibles to the Transocean fleet. In addition, the acquisition includes two high-specification ultra-deepwater drillships currently under construction at the Samsung shipyard in Geoje, South Korea.

Among the contract additions, Transocean signed a rig design and construction management contract, as well as a five-year drilling contract, withChevron USA Inc. for one of its two dynamically positioned ultra-deepwater drillships under construction at the Jurong shipyard in Singapore. The drilling contract has an estimated backlog of $830 million, excluding mobilization and reimbursables.

The rig will be the first ultra-deepwater floater rated for 20,000 psi operations and is expected to start operations in the Gulf of Mexico in the second half of 2021.

Offshore Australia, Chevron has awarded the ultra-deepwater drillshipDhirubhai Deepwater KG2 a four-well contract via a term swap with the ultra-deepwater semisubmersible GSF Development Driller I. It was also awarded one four-well option. The contract is expected to start this August and end in May 2020.

In the Norwegian North Sea, Lundin Petroleum has exercised a one-well option for the harsh-environment semisubmersibleLeiv Eiriksson. Wellesley Petroleum has exercised two one-well options for the harsh environment semisub Transocean Arctic, and Capricorn Norge awarded the rig a two-well contract.

Offshore Ivory Coast, CNR has exercised two one-well options for the ultra-deepwater drillshipDiscoverer India.

In the UK North Sea, Fairfield Energy Ltd. exercised a one-well option for the semisubTransocean 712.

In addition, the company said that it intends to scrap the ultra-deepwater drillshipOcean Rig Paros. The rig is classified as held for sale.