Transocean wins five-year contract for newbuild ultra-deepwater drillship
Chevron U.S.A. Inc. has awarded Transocean Ltd. a five-year contract for a newbuild dynamically positioned ultra-deepwater drillship. Delivery is scheduled for 2Q 2016.
The contract is expected to begin in 4Q 2016, contributing an estimated revenue backlog of approximately $1.1 billion, excluding mobilization. Excluding capitalized interest, the capital investment for the newbuild drillship is an estimated $725 million.
Construction of the newbuild drillship is expected to begin in 4Q 2014 at the Daewoo Shipbuilding and Marine Engineering Co. Ltd. facility in Okpo, South Korea. DSME built Transocean’s five Enhanced Enterprise-Class rigs and has six other Transocean ultra-deepwater drillships under construction.
The newbuild drillship will include Transocean’s patented dual-activity drilling technology, which allows for parallel drilling operations. The vessel will be outfitted with two 15,000-psi BOPs. The drillship will be able to accommodate a future upgrade to a 20,000-psi BOP when it becomes available from the original equipment manufacturer suppliers.
The rig will also feature a 2.5-million-lb hook load capacity, a variable deckload capacity of 23,000 metric tons, enhanced well completion capabilities, and diesel engines configured to comply with anticipated Tier III International Maritime Organization emissions standards. The drillship is designed to operate in water depths of up to 12,000 ft (3,658 m) and to drill wells to 40,000 ft (12,192 m).