Transocean nets contract awards for pair of drillships offshore Brazil

Transocean announced awards for its ultradeepwater drillships Deepwater Corcovado and Deepwater Orion for work offshore Brazil with a national oil company. Together the two contracts represent approximately $1.04 billion in firm backlog.

Deepwater Corcovado was awarded a four-year contract, which contributes an estimated $583 million in backlog and is expected to begin in Q3 2023 in direct continuation of the rig’s current contract. Deepwater Orion was awarded a three-year contract, which contributes an estimated $456 million in backlog and is expected to commence during Q4 of 2023.