CATEGORIZED | News

Transocean ultra-deepwater semi nabs Petrobras contract

Posted on 28 July 2009

 Transocean announced on 20 July that Petrobras has approved the award of a three-year contract for the ultra-deepwater semisubmersible rig Cajun Express for operations in Brazil. The rig is currently working in the US Gulf of Mexico for Chevron.

 The Cajun Express will work for Petrobras offshore Brazil.

Petrobras has the right within one year of contract execution to convert the three-year contract to a five-year contract. Estimated revenues related to the three-year term and five-year term, if elected, are approximately $558.5 million and $894.3 million, respectively, depending on the date of execution of conversion.

The contract is expected to commence in the first quarter of 2010 following completion of the rig’s current contract.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 17 December 2014

    Saudi Aramco: Four factors for a sustainable drilling business

    Despite the modest growth in demand and drop in oil prices today, the long-term outlook for industry is healthy. “Our industry will need to add around 40 million bbl per day for new capacity...

  • 16 December 2014

    Ensco development program produces driller in 3 years

    Ensco’s Accelerated Development Program (ADP) takes a “green” individual and, within a three-year period, trains them to become a driller. In response to personnel shortages in various areas, including drilling...

  • 16 December 2014

    Saudi Aramco: ‘Industry cannot afford to lose talent when the economy is down’

    Industry is facing a human resources challenge in two areas: the ageing workforce and the shortage of skills, Mohammed Al Sellemi...

  • 16 December 2014

    Nanotechnology has potential to improve tool performance in extreme environments

    In terms of temperature stability and corrosion, tools have limitations, especially in extremely challenging drilling environments. Jothibasu Ramasamy...

  • 16 December 2014

    Colville: WCI provides forum to evaluate practical, economical advances in well control practices

    Major players throughout industry are joining forces under the Well Control Institute (WCI). The mandate of WCI is “to provide the definitive forum...

  • Read more news