Global and Regional MarketsNewsThe Offshore Frontier

Transocean announces new contracts for drillships in Brazil, Gulf of Mexico

Transocean recently announced new contracts for two ultra-deepwater drillships, the Petrobras 10000 and Deepwater Conqueror, in Brazil and the US Gulf of Mexico, respectively.

The Petrobras 10000 received a 5.8-year contract for work offshore Brazil with a national oil company. The contract adds an estimated $915 million in backlog and is expected to commence in October 2023 and end in August 2029.

The estimated firm backlog excludes income associated with the customer’s anticipated use of the company’s patented dual-activity technology on the Petrobras 10000.

The Deepwater Conqueror was awarded a two-year contract by a major operator for work in the US Gulf of Mexico at $440,000/day with up to an incremental $39,000/day for additional products and services.

Excluding revenue associated with the additional products and services, the new contract adds an estimated $321 million in backlog and is expected to begin in December 2022 in direct continuation of the rig’s current contract.

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