Transocean signs US$830 mln drilling contract with Chevron

Dec 30, 2018
2 min read
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Transocean announced that it has signed a rig design and construction management contract, as well as a five-year drilling contract, with Chevron for one of its two ultra-deepwater drillships currently under construction at the Jurong shipyard in Singapore.

The rig will be the first ultra-deepwater floater rated for 20,000 psi operations and is expected to commence operations in the Gulf of Mexico in the second half of 2021.

The drillship will feature state-of-the-art technology available including dual 20,000 psi blowout preventers, 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,” said Jeremy Thigpen, President and CEO. “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.”

Thigpen added: “On behalf of Transocean, I thank Chevron for their long-standing partnership, and trust in our capabilities.”