Transocean Sedco Forex Lands Petrobras Contracts

Transocean Sedco Forex has been awarded contracts totaling $223 million in projected revenues by Petrobras for continuing work offshore Brazil for three of its rigs. The Transocean Driller has been awarded an 18-month, estimated $36 million contract to commence on or around August 2001, following the completion of its current drilling program with Petrobras. The Transocean Driller is rated to drill in water depths of up to 3,000 feet. The Sedco 707 has been awarded a 24-month, estimated $73 million contract to commence in early 2002, following the completion of its current drilling program with Petrobras. The dynamically positioned, ultra-deepwater rig is rated to drill in water depths of up to 6,500 feet. Finally, the Discoverer Seven Seas has been awarded a 30-month, estimated $114 million contract to commence during the first quarter of 2002, following the completion of its current drilling program with Petrobras. The dynamically positioned, ultra-deepwater drillship is rated to drill in water depths of up to 7,500 feet. Each contract offers a daily bonus opportunity ranging from 5% to 20% of base revenue.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles

Natural Gas : $3.64/MMBtu 0.27%
Brent Crude Oil : $53.93/BBL 1.83%
Light Crude Oil : $50.93/BBL 1.66%
Updated in last 24 hours