Oil and Gas World

Transocean Ltd. Announces Deepwater Corcovado, Deepwater Mykonos Contract Extensions



STEINHAUSEN, Switzerland, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that Petrobras has exercised a 680-day preexisting, fixed price option for the Deepwater Corcovado, and a 815-day preexisting, fixed price option for the Deepwater Mykonos. Together these contract extensions add approximately $297 million to Transocean’s industry leading backlog. Both rigs will continue to operate in Brazil and are subject to annual indexed dayrate escalations.

Transocean Ltd. Announces $11 Million in Exercised Options for Ultra-Deepwater Drillship, Deepwater Mykonos

In Brazil, Petrobras exercised a 30-day option for the Deepwater Mykonos in direct continuation of its firm program. The program is expected to contribute approximately $11 million in backlog.