Transocean Ltd. has signed a rig design and development administration contract, in addition to a five-year drilling contract, with Chevron USA for one in all its two dynamically positioned ultra-deepwater drillships presently underneath development on the Jurong shipyard in Singapore. The drilling contract has an estimated backlog of $830 million USD, excluding mobilization and reimbursables. The drilling contract is topic to design, development, and supply necessities set forth within the development contract.
The rig would be the first ultra-deepwater floater rated for 20,000 psi operations and is anticipated to begin operations within the Gulf of Mexico within the second half of 2021.
In the occasion of termination for comfort by the client, Transocean shall be compensated for its incremental 20,000 psi subsea funding within the rig. Additionally, a termination for comfort occurring after April 2020, would end in a considerable termination price.
The drillship will function essentially the most superior capabilities and state-of-the-art expertise accessible together with twin 20,000 psi blowout preventers, internet hook-load capability of three million kilos, 165-ton lively heave compensating crane, and an enhanced dynamic positioning system. The rig’s excessive reliability energy plant may also be configured to adjust to Tier III International Maritime Organization emissions requirements.
“We are extraordinarily happy to announce that we have now entered into an settlement with Chevron to assemble and function the trade’s most succesful ultra-deepwater drillship,” mentioned Jeremy Thigpen, President and CEO. “Transocean has a protracted and storied historical past of introducing new applied sciences that allow our prospects to soundly and effectively entry the world’s most difficult reservoirs. Adding to that historical past, we’re proud to be delivering the trade’s first rig able to drilling and finishing wells requiring subsea tools rated to 20,000 psi.”
Thigpen concluded: “On behalf of Transocean, I thank Chevron for his or her long-standing partnership, and belief in our capabilities. I additionally thank the members of the Chevron and Transocean groups who’ve spent numerous hours on the event of this game-changing resolution.” (Source: Transocean – Image: LMG Marin)
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