Transocean Delays Drillships, Lands New Contracts

Transocean, one of many world’s largest offshore drilling contractors, revealed Tuesday that previously month the corporate has landed $109 million in new drilling contracts, however mentioned it has delayed the supply of two newbuild drillships at Singapore’s Jurong Shipyard.

The new revelations had been revealed Tuesday within the firm’s month-to-month Fleet Update Summary. Highlights of the report embody new contracts, modifications to current contracts, and modifications in estimated deliberate out-of-service time for rigs.

Since May’s report, Transocean says that it has landed new contracts totaling $109 million. The contracts embody a one yr contract extension offshore Thailand for the Transocean Andaman jackup at a dayrate of $115,000, including an estimated $42 million to its backlog; a 3 month contract extension within the U.S. Gulf of Mexico for its Deepwater Champion drillship at a dayrate of $395,000, including an estimated $36 million to its backlog; a one effectively contract extension within the U.Okay. sector of the North Sea for its GSF Galaxy II jackup at a dayrate of $190,000, including an estimated $17 million to its backlog; and a forty five day contract offshore Nigeria for the Sedco Express semisubmersible, including an estimated $14 million to its backlog.

Transocean additionally mentioned it has amended its building contracts with Sembcorp Marine’s subsidiary, Jurong Shipyard, to delay the supply of its two newbuild, ultra-deepwater drillships by 24 months. The two drillships at the moment are anticipated to be delivered within the second quarter of 2019 and the primary quarter of 2020, respectively.

The fleet standing report additionally revealed that the GSF Monarch and Transocean Spitsbergen are idle, whereas GSF C.R. Luigs rig has gone from idle to stacked.

Transocean added that Spitsbergen’s effectively program concluded 45 days early because of environment friendly efficiency of the rig, though the contract supplies for a fee to the corporate within the occasion of an early termination.

Finally, Transocean mentioned it has categorized the GSF Celtic Sea and the Transocean Amirante as held on the market. Meanwhile, the Amirante can be recycled, the Celtic Sea will both be bought to be used in a non-drilling capability or recycled. To date, excluding the Celtic Sea, Transocean has indicated its intent to scrap a complete of 20 floaters.