Transocean Ltd., a leader in offshore drilling, has announced a one-year contract for its ultra-deepwater drillship , Deepwater Conqueror, in the Gulf of Mexico . This contract, valued at approximately $193 million, will commence in October 2025 and is expected to significantly boost the company’s project pipeline.
Transocean signs strategic contract in the offshore market
The contract has been signed with an undisclosed operator, although there is speculation that it could involve a major player in the sector, such as Chevron. Transocean, which specialises in operations in technically challenging environments, thus adds another important deal in the offshore market , reinforcing its position as a reliable and experienced provider in deepwater.
The Deepwater Conqueror , built in 2016, is capable of operating at depths of up to 12,000 feet and can drill to 40,000 feet , making it a key asset in Transocean’s portfolio. The company has a high-tech fleet and continues to secure large-scale contracts, maintaining its robust backlog, which as of July 2024 stood at $8.64 billion.
With this contract, Transocean strengthens its position in the Gulf of Mexico and also provides a positive outlook for its future operations, meeting the growing demand for deepwater exploration.
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Source: Transocean
Photo: Shutterstock
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