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.
Manages 46 Offshore Rigs
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Company: Repsol more info
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