Transocean wins $123 million ultra-deepwater drillship contract

Reliance Industries has contracted Transocean’s Dhirubhai Deepwater KG1 drillship for six wells offshore India. The estimated 300-day program is expected to commence in the second quarter of 2026 and is estimated to contribute approximately $123 million in backlog, excluding additional services and a mobilization fee.

The award also includes multiple options. If all options are exercised, the rig would remain in India through the end of 2029.