Transocean nets US$1.2 billion in drilling contracts for Brazil, Gulf of Mexico

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Transocean, the drilling company that was instrumental in making the giant Liza discovery, was contracted in August for drilling in Brazil and the Gulf of Mexico. The combined value of these contracts exceeds US$1.2 billion.

The Swiss-based driller said the ultra-deepwater drillship, Petrobras 10000, received a 5.8-year contract for work offshore Brazil with a national oil company.

The contract adds an estimated US$915 million in backlog and is expected to commence in October 2023 and end in August 2029. Transocean said 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.

Transocean announced too that the ultra-deepwater drillship, Deepwater Conqueror, was awarded a two-year contract by a major operator for work in the United States Gulf of Mexico at US$440,000 per day with up to an incremental US$39,000 per day for additional products and services.

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

As a leading international provider of drilling services for offshore oil and gas wells, Transocean specialises in technically demanding sectors of the global business with a particular focus on deepwater and harsh environment drilling services.

The Transocean drillship, Deepwater Champion, famously struck oil at the Liza field in the Stabroek Block offshore Guyana in 2015. It was the first commercial discovery of oil offshore Guyana. The well is currently producing.


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