Transocean wins contract extension for Discoverer Enterprise

BP America Production Co. (BP) has awarded Transocean's fifth-generation deepwater drillship, Discoverer Enterprise, a three-year contract extension.

(US, GoM) - BP America Production Co. (BP) has awarded Transocean's fifth-generation deepwater drillship,Discoverer Enterprise, a three-year contract extension.

The contract is expected to begin in December 2007, in direct continuation of the rig's current contract commitment, also with BP.

The rig is expected to be utilized in the GoM, with revenues possible over the three-year contract period of approximately $569 million, excluding revenues for mobilization, demobilization, and client reimbursables.

The dynamically positionedDiscoverer Enterprise is one of 32 high-specification deepwater floaters in the Transocean fleet, 13 of which are fifth-generation deepwater floaters.

The rig, which is capable of operating in water depths of up to 10,000 ft, entered active service in 1999 following its construction in El Ferrol, Spain, and Pascagoula, Miss.

The rig has been under contract to BP and utilized in the GoM since it began service.

It is one of three drillships in the company's fleet to incorporate Transocean's patented dual-activity drilling process that utilizes two drilling systems in a single derrick, allowing for parallel drilling operations designed to save time and money in deepwater well construction, compared with conventional rigs.

02/28/06


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