Transocean to deploy ultra-deepwater drillship for US$518M GoM job

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Transocean announced Tuesday that an independent operator awarded a 1,080-day contract for a high-specification seventh-generation, ultra-deepwater drillship in the Gulf of Mexico. One of three drillships will be selected by Transocean from among Deepwater Invictus, Deepwater Thalassa, and Deepwater Proteus no later than one year prior to the earliest date in the commencement window.

The contract will contribute approximately US$518 million in backlog, excluding revenue for mobilisation and demobilisation, and is expected to commence between the fourth quarter of 2025 and second quarter of 2026. The contractual dayrate is subject to a semi-annual cost adjustment mechanism with a baseline established as of July 1, 2023. 

“This award is especially encouraging on numerous fronts,” said Chief Executive Officer Jeremy Thigpen. “The fact that our customers are securing rigs well in advance of their programs and committing to long-term contracts clearly demonstrates the tightness of the market. Additionally, our ability to designate the specific rig closer to the commencement of the program provides us with increased flexibility to optimise the utilisation of our high-specification fleet of ultra-deepwater drillships.”

Transocean Ltd. is a leading international provider of offshore contract drilling services for oil and gas wells. Its Transocean Deepwater Champion famously hit pay at the Liza field offshore Guyana in 2015.

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