Deepwater rig specialist Transocean secured awards for a pair of ultradeepwater drillships for work offshore Brazil with Petrobras. Together the two contracts represent around $1.04 billion in firm backlog, according to the contractor.
Drillship Deepwater Corcovado was awarded a 4-year contract, which contributes an estimated $583 million in backlog and is expected to begin in the third quarter of 2023 in direct continuation of the rig’s current contract. The former Ocean Rig drillship is an enhanced Samsung 10000 unit capable of operating in 10,000 ft of water. The rig has been working for Petrobras since December 2019.
Drillship Deepwater Orion was awarded a 3-year contract, which contributes an estimated $456 million in backlog and is expected to begin during the fourth quarter of 2023. The rig is a sister unit to the Corcovado, built and outfitted with similar specifications. According to Transocean’s most recent fleet report, the Deepwater Orion has been idle since October 2019.
Separately, in November, the rig contractor closed a deal that will add another deepwater drillship to its fleet next year. A Transocean subsidiary, together with Perestroika AS and funds managed by Lime Rock Management, formed a joint venture to purchase Hull 3623, the ultradeepwater newbuild drillship formerly known as West Aquila, from Daewoo Shipbuilding & Marine Engineering (DSME) for around $200 million.
Hull 3623 is a high-specification, 1400 short-ton hookload ultradeepwater drillship. The seventh-generation dual-activity drillship will have a large deck space, high load capacities, and will be dual-stack ready.
Transocean has made a $15-million noncontrolling investment in the joint venture, dubbed Liquila Ventures, and maintains the exclusive right to market and manage the operations of the rig, which is expected to be delivered from DSME in the third quarter of 2023.
