$805 million, 15 rig-year deal
Posted: 01 March 2006
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India ’s Oil and Natural Gas Corporation has awarded contracts for five of Transocean’s jack-ups totaling 15 rig years and an estimated $805 million in revenues.
The jack-ups, Ron Tappmeyer, Randolph Yost, Trident II, Trident XII and JT Angel, have each been awarded three year contracts with revenues of approximately $161 million per unit.
The Ron Tappmeyer, Randolph Yost and Trident XII are presently under contract to ONGC, with completion dates expected in November. The Trident II is also operating offshore India for ONGC, with an estimated completion date in May. The JT Angel, currently operating offshore Indonesia , completed a contract with EMP Kangean last month.
Transocean is the world's largest offshore drilling contractor with a fleet of 90 mobile offshore drilling units.
Posted by Editor Offshore Arabia Magazine
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