Shell extends Deepwater Nautilus contract

Offshore staff

HOUSTON -- Royal Dutch Shell has awarded Transocean a minimum three-year contract extension for the semisubmersible Deepwater Nautilus.

According to Transocean, Shell has the right to elect, by June 30, 2008, to extend the contract by an additional year, to a total of four years.

Estimated contract revenues over the three-year or four-year (if elected) extension periods are approximately $586 million or $759 million, respectively.

03/27/2008