Contract revenues which could be generated over the first six months and remaining 54 months of the contract period are estimated to be around $90 million and $838 million, respectively.
In addition, Transocean announced that the first ultra-deepwater drillship owned by its joint venture with Reliance, the Dhirubhai Deepwater KG1, has its previously announced four-year contract extended by Reliance to five years.
The drilling contract is expected to commence in the third quarter of 2009. The new drillships feature National Oilwell Varco drilling packages that include advanced offshore drilling technology. The drillships are expected to have a variable deckload of approximately 20,000 metric tons.
