Transocean adds $1.24bn to backlog with drillship contracts in Brazil and US Gulf

Offshore drilling contractor Transocean has fixed two drillships on long-term contracts worth close to $1.24bn, adding to its backlog of $6.2bn.

The Swiss-based driller has secured a 68-month contract with Petrobras for the 2009-built ultra-deepwater drillship, Petrobras 10000.

The contract offshore Brazil adds an estimated $915m in backlog and is expected to commence in October 2023 and end in August 2029.

Meanwhile, an undisclosed major has booked the 2016-built Deepwater Conqueror for two years in the US Gulf of Mexico at $440,000 per day with up to an incremental $39,000 per day for additional products and services.

The contract, worth $321m excluding additional services, starts in December this year in direct continuation of the rig’s current contract.

Transocean reported a second-quarter 2022 net loss of $68m on revenue of $692m against a net loss of $175m and revenue of $586m at the same time last year.

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