Transocean wins contract for Discoverer Seven Seas

Aug. 7, 2003

Oil and Natural Gas Corp. Ltd. (ONGC) of India has awarded Transocean Inc. a three-year contract for the deepwater drillship Discoverer Seven Seas. The integrated services contract is expected to begin in 1Q 2004, following the mobilization of the rig from a Brazilian shipyard to India.

Oil and Natural Gas Corp. Ltd. (ONGC) of India has awarded Transocean Inc. a three-year contract for the deepwater drillshipDiscoverer Seven Seas. The integrated services contract is expected to begin in 1Q 2004, following the mobilization of the rig from a Brazilian shipyard to India. Exclusive of a mobilization fee, the contract includes revenue for the Discoverer Seven Seas of $137 million over three years, plus revenues for comprehensive services that include well-planning, operations support, and logistics-management.

TheDiscover Seven Seas is a dynamically positioned drillship capable of drilling in water depths to 7,000 ft.

08/07/03