Transocean Ltd. Announces Contract Extension for Petrobras 10000

Published by Aimee Knight, Editorial Assistant
Oilfield Technology, Tuesday, 02 October 2018 09:00

The company has announced that the ultra-deepwater drillship Petrobras 10000 was awarded a 790-day contract extension offshore Brazil with Petrobras.

The contract is extended through October 2021 and includes a blend and extend modification to the previous contract dayrate, effective September 2018. The additional net contract backlog is approximately US$185 million, including cost escalations.

Additionally, Transocean will receive a 5% royalty per day, totalling approximately US$16 million, estimated to be from October 2018 to October 2021 associated with the use in Brazil of the company’s patented dual-activity technology on the Petrobras 10000.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/02102018/transocean-ltd-announces-contract-extension-for-petrobras-10000/

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