Transocean Award $351M Contract for GSF Explorer

Transocean Inc. reported the award of a 689-day contract by a consortium headed by Marathon International Petroleum Indonesia Ltd, a wholly owned subsidiary of Marathon Oil Corporation, for the ultra-deepwater drillship GSF Explorer to drill a series of exploration wells in a deepwater province in Indonesia. The Makassar Strait Explorers Consortium (MSEC) comprises Marathon International Petroleum Indonesia Ltd, Anadarko Popodi Ltd, ConocoPhillips (Kuma) Ltd, ENI Bukat Ltd, Statoil Indonesia Karama AS and Talisman (Sageri) Ltd.

The 689-day contract is expected to commence in the fourth quarter of 2009 following the completion of existing contractual commitments in Angola and mobilization to the Makassar Strait, a deepwater province receiving renewed interest as a result of recent leasing activity.

The estimated contract revenues which could be generated over the 689–day contract period are approximately $351 million. Estimated contract revenues represent the maximum amount of revenues that may be earned in the firm contract period, excluding revenues for mobilization and demobilization.

The GSF Explorer is one of 18 Ultra-Deepwater Floaters in the Transocean fleet. Constructed in 1972 and upgraded in 1998, the drillship is capable of working in water depths up to 7,800 feet.

Related Companies
 Company: Statoilmore info


 - Statoil Says Mistakes, Lack Of Maintenance Led To Troll, Mongstad Accidents (Jan 20)
 - Big Oil Back On The Acquisition Trail As Outlook Brightens (Jan 19)
 - Oil, Gas Firms Make Global 100 Most Sustainable Corporations List (Jan 19)
 Company: Talisman Energymore info


 - Strong Upstream Performance from European Majors (Jul 28)
 - PETRONAS, PetroVietnam Extend PM3CAA PSC in Malaysia-Vietnam Waters to 2027 (May 10)
 - Repsol Significantly Scales Back Upstream Investment (Oct 15)
 Company: Anadarko Petroleummore info
 - Anadarko To Sell Certain Marcellus Assets For $1.24B (Dec 21)
 - Mozambique Approves Changes To LNG Contracts With Anadarko, Eni (Dec 7)
 - More Company Climate Votes Ahead, As Trump May Loosen Energy Rules (Nov 25)
 Company: Marathon Oil Companymore info


 - RoyalGate to Drill New Well in Equatorial Guinea's Block Z (Sep 25)
 - ShaMaran Subsidiary to Contest TAQA Default Notice (Sep 21)
 - Marathon, OMV Hand Back Croatia Oil Exploration Licences (Jul 29)
 Company: ENImore info


 - Oil, Gas Firms Make Global 100 Most Sustainable Corporations List (Jan 19)
 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 - Eni: Oil, Gas Discovery in Norwegian Sea (Jan 17)
 Company: Transocean Ltd.more info


 - Transocean Notes Management Changes (Dec 3)
 - Transocean Has A Third Of Deepwater Rigs Seeking 2014 Work (Nov 21)
 - Transocean's Alaska Rig Contract with Shell Starts July 2014 (Nov 19)
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
Instrument Inspector
Expertise: Instrumentation Technician|QA / QC / Inspection
Location: Geismar, LA
 
Licensed Electrician
Expertise: Electrical Technician|Electrician
Location: Pittsfield, MA
 
Licensed Electrician
Expertise: Electrician
Location: Springfield, MA
 
search for more jobs

Brent Crude Oil : $54.16/BBL 0.44%
Light Crude Oil : $51.37/BBL 0.56%
Natural Gas : $3.37/MMBtu 2.12%
Updated in last 24 hours