Transocean has successfully signed two new contracts for its ultra-deepwater rigs in the Gulf of Mexico, USA. These contracts will add a total value of $550 million to the company's contract volume.
Details of the Deepwater Proteus Rig Contract
An unnamed operator has awarded a contract for drilling ten wells to the Deepwater Proteus rig, which was built in 2016. This campaign is estimated to last 700 days and is expected to add approximately $325 million to the contract volume of this rig. Operations for this contract will begin in the first quarter of 2027 and will continue directly from the current contract of the rig in the Gulf of Mexico.
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Currently, the Deepwater Proteus rig is working under a dual-well contract with an unnamed operator, which is set to conclude in November of this year. However, the operator has two single-well options that, if exercised, will keep this unit under contract until January 2027.
Deepwater Conqueror Rig Contract
The Deepwater Conqueror rig has also received a five-well contract in the Gulf of Mexico. The name of the customer for this rig has not been disclosed. This contract is estimated to last for 450 days and add approximately $225 million to the contract volume of this rig, excluding relocation costs. Operations for this contract will begin in the third quarter of 2027 and will continue directly from the current drilling program of this rig in Equatorial Guinea.
The Deepwater Conqueror rig has also recently received a dual-well contract for work in Equatorial Guinea, expected to start in 2027 and continue directly from this rig's $530,000 daily contract in the Gulf of Mexico. This contract began in October 2025.
With the addition of these two new contracts, the total value of new contracts reaches approximately $550 million, significantly contributing to the stability and economic growth of Transocean.
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