Transocean secures $265 million in contracts for four offshore rigs

Petroleum News Houston staff

Houston-based Transocean, which recently warned of a 2003 second-quarter earnings loss, has since announced $265 million in contracts for four of its offshore rigs.

Transocean, the world’s largest offshore drilling contractor, said July 21 that Canadian Natural Resources has taken an estimated two-year contract for the semi-submersible rig Transocean Richardson. The contract was valued at about $62 million. The Richardson, capable of drilling in water depths of up to 5,000 feet, will be used offshore Ivory Coast in West Africa, Transocean said.

Separately, Transocean said it was awarded roughly $203 million in rig contracts for three of its jackups — Trident XII, Ron Tappmeyer and Randolph Yost — from India’s state-owned Oil and Natural Gas Corp.

Ron Tappmeyer and Randolph Yost are Marathon Le Tourneau Class C-116 units with a maximum water depth of 300 feet. The Ron Tappmeyer is expected to complete its current drilling assignment offshore Indonesia in August, while the Randolph Yost is expected to complete it current drilling program offshore Equatorial Guinea this month, Transocean said.

Trident XII is a Baker Marine BMC-class unit with a maximum water depth of 300 feet. The rig is currently operating offshore Vietnam and is expected to complete its drilling assignment in August.