Transocean Ltd. announces contract extensions

Source: press release, 18 November 2020

Ultra-deepwater drillship ‘Ocean Rig Corcovado’
Ultra-deepwater drillship ‘Ocean Rig Corcovado’ (photo: Transocean Ltd.)

Transocean Ltd. has announced that Petrobras has exercised a 680-day pre-existing, fixed price option for the Deepwater Corcovado, and an 815-day pre-existing, fixed price option for the Deepwater Mykonos.

Together these contract extensions add approximately USD 297 million to Transocean’s backlog. Both rigs will continue to operate in Brazil and are subject to annual indexed dayrate escalations.