Offshore staff
STEINHAUSEN, Switzerland – Transocean Ltd. has signed a rig design and construction management contract, as well as a five-year drilling contract, with Chevron USA Inc. for one of its two dynamically positioned ultra-deepwater drillships currently under construction at Jurong Shipyard in Singapore.
The drilling contract has an estimated backlog of $830 million, excluding mobilization and reimbursables. The drilling contract is subject to design, construction, and delivery requirements set forth in the construction contract.
The rig will be the first ultra-deepwater floater rated for 20,000 psi operations and is expected to begin operations in the Gulf of Mexico in the second half of 2021.
In the event of termination for convenience by Chevron, Transocean will be compensated for its incremental 20,000 psi subsea investment in the rig. Additionally, a termination for convenience occurring after April 2020, would result in a substantial termination fee.
The drillship will feature dual 20,000 psi BOPs, net hook-load capacity of three million pounds, 165-ton active heave compensating crane, and an enhanced dynamic positioning system. The rig's high reliability power plant will also be configured to comply with Tier III International Maritime Organization emissions standards.
“We are extremely pleased to announce that we have entered into an agreement with Chevron to construct and operate the industry’s most capable ultra-deepwater drillship," saidJeremy Thigpen, president and CEO. “Transocean has a long and storied history of introducing new technologies that enable our customers to safely and efficiently access the world’s most challenging reservoirs. Adding to that history, we are proud to be delivering the industry’s first rig capable of drilling and completing wells requiring subsea equipment rated to 20,000 psi.”
12/28/2018
