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790-Day Addendum to Contract Fills Offshore Market, Which Is Shaken but Shows Recovery, with Hope.
Transocean is a leading international provider of offshore drilling contract services for oil and gas wells. This multinational specializes in technically demanding sectors of the global business in this area, with a particular focus on deepwater drilling and harsh environment services, and believes it operates one of the most versatile drilling fleets in the world.
It owns or has partial interests in and operates a fleet of 41 mobile offshore drilling units, consisting of 23 deepwater floaters and 4 midwater floaters, in addition to building two drillships for ultra-deep waters, a semi-submersible inhospitable environment in which the company holds a 33% interest.
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With all this positive background in its historic curriculum, Transocean Ltd announced on Friday (09/28/2018) that the Petrobras 10000, a deepwater drilling ship, received a 790-day extension. With this addendum, the contract is extended until October 2021, with a net backlog of approximately US$185 million including cost escalation.
The company will additionally receive 5% royalties per day, totaling an estimated revenue of US$16 million from October this year until October 2021, associated with the use of patented dual activity technology in Brazil. It is forecasted that the ship will conduct drilling campaigns in the Northeast during the second half of this year.
With this good news, we can believe even more that the offshore market is improving, and that major multinationals will hire more staff to be part of their teams.
Petrobras and Federal Government Close to Agreement on Cessão Onerosa.
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