Deepwater Frontier Awarded Two-Year Contract



Transocean reports that its High-Specification drillship, the Deepwater Frontier, has been awarded a two-year contract by an international oil and gas operator. The contract is expected to commence in the late-third quarter or early-fourth quarter of 2006. The Deepwater Frontier is currently under contract to Petroleo Brasileiro S.A. (Petrobras) in Brazil until approximately May 2006. Revenues of an estimated $234 million could be generated over the two-year contract period, excluding revenues for mobilization, demobilization and client reimbursables.

The Deepwater Frontier, a dynamically positioned, Fifth-Generation drillship, is one of 32 High-Specification rigs in the Transocean Inc. fleet, 13 of which are Fifth-Generation Deepwater Floaters. The rig, which is capable of operating in water depths of up to 10,000 feet, entered active service in 1999 following its construction in Korea.

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.