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The Dhirubhai Deepwater KG2 Drillship Will Operate Under a 910-Day Contract in Deep Water in National Territory. The New Agreement with an Order Book of US$ 392 Million Expands Transocean’s Presence in the Brazilian Offshore Drilling Market.
The multinational drilling company Transocean announced on Tuesday (01/31) another major acquisition for its business portfolio. It has a new contract with an order book of US$ 392 million in the national offshore sector. The agreement provides for the chartering of the Dhirubhai Deepwater KG2 drillship for 910 days, which will operate in deep water regions of national territory.
See the Dhirubhai Deepwater KG1 in the Santos Basin
Transocean’s New Contract for the Chartering of an Offshore Drillship is Set to Begin in the Third Quarter of 2023
Aiming at potential business in the Brazilian market in 2023, Transocean has just announced a new contract with a national company.
It has a charter agreement for the Dhirubhai Deepwater KG2 drillship with a Brazilian oil company. The contract provides for a term of 910 days for offshore drilling operations in ultra-deep water regions of Brazil.
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According to Transocean, the drillship secured an offshore drilling contract with an estimated order book of US$ 392 million. Therefore, the daily rate for chartering the vessel is around US$ 430,000.
This deal marks another significant venture for the company in the Brazilian oil and gas market over the coming years.
Additionally, the company stated that the amount of US$ 392 million does not consider the mobilization fee of “90 times the daily rate of the contract,” which would amount to approximately US$ 38.7 million.
The chartering of the offshore drillship is expected to begin in the third quarter of 2023, for the start of its operations in national territory.
In July 2021, this drillship received a contract for one well, plus two options for one well, with Shell in Brunei.
The agreement was scheduled to start and finish in December 2021 at a daily rate of $190,000.
The Dhirubhai Deepwater KG2 drillship had been idle since January 2022, but will now operate in the ultra-deep waters of the national offshore sector with the new contract from Transocean.
The Year 2023 Will Be Busy for Offshore Drilling Business. Transocean is Set to Capitalize on the Scenario with Its Fleet of Drillships
The Dhirubhai Deepwater KG2 drillship, chartered for offshore drilling operations in Brazil, was built in 2010 under an ambitious project.
It has a maximum operational depth of 12,000 feet (3,657.6 meters) and its maximum drilling depth is 35,000 feet (10,668 meters).
After being idle for a year since its last operation, Transocean’s drillship is preparing to operate in the Brazilian offshore market starting in the third quarter of this year.
In a recent extensive status report on the offshore drilling market, Westwood Global Energy’s offshore drilling market analyst, Terry Childs, commented on the sector in 2023. He believes that the year will be busy for drilling rig chartering companies worldwide.
“The current trajectory of daily rates will continue its upward path,” he stated regarding projections for the year.
Thus, Transocean’s new contract for the chartering of its drillship marks just the beginning of a long year in the offshore drilling sector.
