Transocean secures multi-well contract offshore Myanmar

Feb. 13, 2017
Transocean has issued an update on its offshore drilling rig fleet.

Offshore staff

ZUG, Switzerland– Transocean has issued an update on its offshore drilling rig fleet.

On Dec. 31, 2016, thenewbuild ultra-deepwater drillshipDeepwater Conqueror began operations on its five-year contract with Chevron Corp. in the US Gulf of Mexico at a day rate of $589,000.

In addition, Chevron has elected to exercise its contractual option to terminate the contract for the ultra-deepwater drillshipDeepwater Asgard effective January 2017. The company will be compensated for the early termination through a lump-sum payment of about $79 million, which is based on the operating day rate less the operating cost per day.

Woodside has contracted the ultra-deepwater drillship Dhirubhai Deepwater KG2 for a three-well campaign offshore Myanmar. The contract is expected to start this month.

Hurricane Energy has exercised a one well option for the harsh environment semisubmersible Transocean Spitsbergenin the UK North Sea.

BP has awarded the harsh environment semisubPaul B. Loyd, Jr. a contract extension of about 30 days in the UK North Sea. The contract is expected to start in August 2017.

The ultra-deepwater drillshipsDeepwater Asgard and Discoverer India and the ultra-deepwater semisub Development Driller IIIwere classified as idle.  

The floatersM.G. Hulme, Jr. and GSF Rig 140were classified as held for sale. Transocean says the rigs will be recycled in an environmentally responsible manner.