‘Recent Contract Extension for Deepwater Asgard Obtained by Transocean’

Transocean Secures Contract Extension for Deepwater Asgard

Offshore drilling services provider Transocean Ltd. has announced that it has secured a contract extension for one of its rigs, Deepwater Asgard. The rig has been selected by an independent operator in the United States Gulf of Mexico for an additional 365 days.

The new program is set to begin in June 2024, seamlessly continuing from the rig’s current program with additional services, as stated in a press release by Transocean.

The Deepwater Asgard was previously under contract with Hess Corp., earning 0,000 per day. The initial contract had three one-year extension options, with the total contract value standing at approximately 5 million, including a .9 million lump sum payment. This additional payment was not previously included in the estimated backlog of around 4 million, mentioned the company in the media release.

As of February 14, 2024, Transocean reported a total backlog of approximately billion. The Deepwater Asgard is among the 36 mobile offshore drilling units operated by Transocean and is classified as a DSME 12000 ultra-deepwater drillship. The company currently operates 28 ultra-deepwater units and has one ultra-deepwater drillship under construction.

This contract extension further solidifies Transocean’s position in the offshore drilling market, showcasing its commitment to providing high-quality services to its clients.