Transocean Wins $80 Million Contract for Equatorial Guinea Deepwater Rig
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- Developments
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New informationRepeats or wire copies
What happened
Transocean announced it had secured a contract valued at approximately $80 million for its Deepwater Conqueror ultra-deepwater drillship in Equatorial Guinea. The estimated 170-day campaign involves an undisclosed operator and is expected to commence next year, following the rig's current contract in the US Gulf. The vessel is capable of operating in water depths up to 12,000 feet.
From yahoo.com
Why it matters
The award provides Transocean with additional contract revenue and improves visibility into the company's future revenue base. This new work could contribute positively to operating margins and cash flows, especially since ultra-deepwater rigs require substantial investment.
From yahoo.com
Who's involved
- TransoceanOffshore drilling contractor that secured the contract for the ultra-deepwater rig.
- Equatorial GuineaSovereign state in Africa where the ultra-deepwater rig services are required.
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The entities involved
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Transocean
offshore drilling contractor
Nothing else this week.
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Equatorial Guinea
sovereign state in Africa