Transocean Richardson Wins Chevron Contract

Transocean reports that a subsidiary of Chevron Corporation has awarded the company's semisubmersible rig, the Transocean Richardson, a three-year contract for exploration and appraisal drilling offshore in global Chevron operating areas which may include Southern Africa. The three-year contract is expected to commence in July 2007, following the completion of an existing contract commitment offshore Angola. Revenues of approximately $493 million are possible over the three-year contract, excluding a performance bonus opportunity of up to 10% of the contractual operating dayrate.

The Transocean Richardson is one of 33 High-Specification Floaters in the Transocean Inc. fleet, 13 of which are Fifth-Generation floaters. The rig, which entered service in 1988, is capable of operating in water depths of up to 5,000 feet.

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