Transocean Bags $123M Ultra-Deepwater Drillship Contract From Reliance Industries Limited
Portfolio Pulse from Benzinga Newsdesk
Transocean Ltd. has secured a $123 million contract from Reliance Industries for its ultra-deepwater drillship, Dhirubhai Deepwater KG1, for operations offshore India. The contract includes a 300-day program starting in Q2 2026, with potential extensions through 2029.
September 04, 2024 | 10:31 am
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Transocean Ltd. has been awarded a $123 million contract by Reliance Industries for its drillship, Dhirubhai Deepwater KG1, for a 300-day offshore drilling program in India starting in Q2 2026. The contract could extend through 2029 if all options are exercised.
The contract adds significant backlog to Transocean's portfolio, indicating future revenue streams and potential for extended operations if options are exercised. This positive development is likely to boost investor confidence in the short term.
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