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Drilling & Completion News

Transocean wins 5-year contract for new drillship Transocean has signed a rig design and construction management contract, as well as a five-year drilling contract, with Chevron  for one of its two dynamically positioned ultra-deepwater drillships under construction at the Jurong shipyard in Singapore. The contract has an estimated backlog of $830 million, excluding mobilization and reimbursables. The contract is subject to design, construction and delivery requirements set forth in the construction contract. The rig will be the first ultra-deepwater floater rated for 20,000-psi operations and is expected to commence operations in the Gulf of Mexico in the second half of 2021. In the event of termination for convenience by the customer, Transocean will be compensated for its incremental 20,000-psi subsea ...

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