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Transocean reports that a subsidiary of Eni has awarded an estimated six-month contract for the semisubmersible rig Transocean Legend for drilling operations offshore Indonesia. The contract is expected to commence in November 2006, following the completion of an existing contract commitment offshore Sakhalin Island. Revenues that could be generated over the estimated six-month contract period total an approximated $79 million, excluding revenues for mobilization, demobilization and client reimburseables.
The Transocean Legend is expected to be in a South Korean shipyard through May 2006 completing a minor upgrade program ahead of the mobilization of the rig to Sakhalin Island where it is expected to operate through October 2006.
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