Transocean Lands Contracts for Four High-Specification Rigs

Transocean has been awarded contracts for four of the company's High-Specification semisubmersible rigs, the Sedco Energy, Deepwater Discovery, Transocean Leader, and Sedco 709.

The Fifth-Generation deepwater semisubmersible Sedco Energy has been awarded a 730-day contract in West Africa. The contract is expected to commence in October 2005, following the completion of the rig's current drilling program and an estimated 100-day period for rig modifications in a shipyard in Las Palmas and mobilization to the location. Revenues of approximately $148 million could be generated over the 730-day contract period.

Nexen has awarded the Fifth-Generation drillship Deepwater Discovery a one well, estimated 25-day contract for drilling operations offshore Equatorial Guinea. The contract is expected to commence during May 2005, in direct continuation of the rig's current contract. Revenues of approximately $8 million could be generated over the 25-day contract period.

The Sedco Energy and Deepwater Discovery are dynamically positioned, ultra-deepwater rigs capable of working in water depths of up to 7,500 and 10,000 feet, respectively. The Sedco Energy, which entered service in 2001 following its construction in Brest, France, is currently operating offshore Nigeria for ChevronTexaco. The Deepwater Discovery, which began operations in 2000 following its construction in Ulsan, Korea, is currently operating offshore Ivory Coast for Vanco.

In addition, Statoil has awarded the deepwater rig Transocean Leader an estimated 345-day contract for drilling operations offshore Norway. The program is expected to commence in February 2006, in direct continuation of the rigs current contract. Revenues of approximately $84 million could be generated over the 345-day contract period.

Finally, Amerada Hess has awarded the deepwater rig Sedco 709 a two-well, estimated 60-day contract for drilling operations offshore Gabon. The contract is expected to commence in April 2005, in direct continuation of the rig's current contract. Revenues of approximately $10 million could be generated over the 60-day contract period.

The Transocean Leader and Sedco 709 are two deepwater semisubmersible rigs capable of working in water depths of 4,500 feet and 5,000 feet, respectively. The Transocean Leader is currently operating for Statoil offshore Norway, while the Sedco 709 is operating for CNR offshore Ivory Coast.

Estimated revenues for each contract are exclusive of revenues for mobilization, demobilization, rig modifications and client reimburseables.

The Sedco Energy, Deepwater Discovery, Transocean Leader and Sedco 709 represent four of the 32 High-Specification Floaters in the Transocean fleet, 13 of which are capable of drilling in water depths of 7,500 feet or greater.

Related Companies
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Contract Directional Driller - Confidential
Expertise: Directional Driller|MWD / LWD
Location: Oklahoma City, OK
 
Equipment Operator (Frac)
Expertise: Driller|Well Control
Location: Midland, TX
 
Truck Driver (Sand)
Expertise: Driller|Oil Terminal / Storage Management|Well Servicing & Testing
Location: Midland, TX
 
search for more jobs

Brent Crude Oil : $50.64/BBL 0.62%
Light Crude Oil : $48.04/BBL 1.47%
Natural Gas : $3.01/MMBtu 2.58%
Updated in last 24 hours