Three Transocean Semisubs Win Contracts

Transocean has been awarded contracts for three of the company's semisubmersible rigs, the Sovereign Explorer, Transocean Amirante and Sedco 712, totaling an estimated $552 million in possible revenues over the primary terms of the contracts.

The Sovereign Explorer has been awarded a two-year contract from Repsol Exploracion S.A. (Repsol) for drilling operations primarily offshore Brazil. The contract is expected to commence in January 2008, following the conclusion of current contract commitments and scheduled rig out-of-service time. Revenues of approximately $278 million are possible over the two-year contract period.

In addition, a U.S. affiliate of Repsol has awarded the Transocean Amirante a two-well, estimated 80-day contract for drilling operations in the U.S. Gulf of Mexico. The contract is expected to commence in January 2007, in direct continuation of current contract commitments, with revenues of approximately $26 million possible over the 80-day contract period.

Finally, a subsidiary of Oilexco Incorporated has awarded the Sedco 712 a two-year contract extension for drilling operations in the U.K. North Sea. The contract extension is expected to commence in March 2008 with revenues of approximately $248 million possible over the two-year contract period.

Estimated contract revenues exclude revenues for mobilization, demobilization, contract preparation and client reimbursables.

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
Packer
Expertise: Storeman|Warehouse Person
Location: Lovell
 
Drivers
Expertise: Heavy Machinery Operator|Rig Mover|Truck / HGV Driver
Location: Midland, TX
 
Class A CDL Drivers INTERVIEW OPPORTUNITY
Expertise: Motorman
Location: San Antonio, TX
 
search for more jobs

Brent Crude Oil : $50.8/BBL 0.47%
Light Crude Oil : $47.97/BBL 0.56%
Natural Gas : $3.08/MMBtu 0.98%
Updated in last 24 hours