Transocean Ltd. bags contract awards for two ultra-deepwater drillships

Source: press release, 7 December 2022

‘Deepwater Corcovado’ ultra deepwater dual activity drillship
‘Deepwater Corcovado’ ultra deepwater dual activity drillship (photo: Transocean Ltd.)

Transocean Ltd. has announced awards for its ultra-deepwater drillships, Deepwater Corcovado and Deepwater Orion, for work offshore Brazil with a national oil company. Together the two contracts represent approximately USD 1.04 billion in firm backlog.

Deepwater Corcovado was awarded a 4-year contract, which contributes an estimated USD 583 million in backlog and is expected to begin in the third quarter of 2023 in direct continuation of the rig’s current contract.

Deepwater Orion was awarded a 3-year contract, which contributes an estimated USD 456 million in backlog and is expected to commence during the fourth quarter of 2023.