Transocean’s Drillship to Stay in India Under New $111M Deal

Wednesday, December 18, 2024

India-based oil company Reliance Industries Limited has exercised an option under the previously agreed firm contract with Transocean for its Dhirubhai Deepwater KG1 drillship.

Offshore drilling contractor Transocean informed that a four-well option was exercised by Reliance Industries for work in India, brining in $111 million to the company.

The estimated 270-day program is expected to begin in direct continuation of the rig’s firm term with Reliance, agreed in September 2024 for a six-well drilling job.

Under that contract, Transocean and Reliance agreed an estimated 300-day program for the Dhirubhai Deepwater KG1, expected to begin in the second quarter of 2026, and contribute approximately $123 million in Transocean’s backlog.

The contract included option, according to Transocean, which said if all options were exercised the rig would remain in India through the end of 2029.

The Dhirubhai Deepwater KG1 drillship, built by Samsung Heavy Industries in 2009, is capable of operating in water depths of up to 12,000 ft (3.657 m) with a maximum drilling depth of 35,000 ft (10.668 m).


Categories: Drilling Industry News Activity Asia Drillships Oil and Gas

Related Stories

Sapura Energy Rebrands to Vantris Energy

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

Valeura Makes Progress with Multi-Well Drilling Campaign in Gulf of Thailand

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Borr Drilling Bags Three New Assignments for its Jack-Up Drilling Rigs

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Current News

Sapura Energy Rebrands to Vantris Energy

BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

CNOOC Brings New Offshore Gas Field On Stream

Yinson, PTSC Get $600M Contract for Vietnam-Bound FSO

PTTEP Buys Chevron's Hess Unit Share of Southeast Asia’s Offshore Block for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com