Transocean Ltd., one of the world leaders in offshore drilling, has announced a new drilling contract worth $123 million. The award was made by Reliance Industries Limited. The project involves the use of the Dhirubhai Deepwater KG1 drillship, which will be deployed to operate six offshore wells over an estimated period of 300 days.
Activities are expected to commence in the second quarter of 2026, the company said. This contract increases the company’s portfolio at a key time, as the offshore drilling industry looks to revive its operations after several challenging years.
Drillship to be key to Reliance’s expansion
The award includes multiple options that could extend the operation of the vessel until 2029, which would add significant value for both companies. This agreement reinforces the company’s role as a key provider of ultra-deepwater drilling services. ultra-deepwater drilling servicesa segment that is highly demanded for its ability to operate in extreme conditions.
For its part, Reliance Industries is looking to leverage these services to expand its presence in the hydrocarbon sector in the Indian Ocean region, using state-of-the-art technology in drilling highly complex wells.
The Dhirubhai Deepwater KG1with a proven track record, is a key player in this type of project, as it can operate in extremely challenging deep water conditions. This strategic agreement strengthens both Transocean’s portfolio portfolio and Reliance’s ability to execute long-term operations in a competitive market.
If all contract options are exercised, the Dhirubhai Deepwater KG1 could be operational until the end of 2029, which would provide significant additional value for the company and help consolidate its position in the offshore drilling market. With this new award, the company continues to demonstrate its strength in a sector that continues to require highly specialized solutions.
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Source and photo: Transocean
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