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Transocean announces contract extension for Petrobras 10000

The Petrobas 10000
The contract for the Petrobras 10000, built in 2009, has been extended through October 2021.

Transocean has announced that the ultra-deepwater drillship Petrobras 10000 was awarded a 790-day contract extension offshore Brazil with Petrobras. The contract is extended through October 2021 and includes a blend-and-extend modification to the previous contract dayrate, effective September 2018. The additional net contract backlog is approximately $185 million, including cost escalations.

Additionally, Transocean will receive a 5% royalty per day, totaling approximately $16 million, estimated to be from October 2018 to October 2021 associated with the use in Brazil of the company’s patented dual-activity technology on the Petrobras 10000.

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