Transocean
gets contract for two high-specification rigs
Posted: 11 March 2004
Transocean Inc subsidiaries have been awarded contracts for two
High-Specification Floater rigs, the drillships Deepwater Frontier
and Deepwater Pathfinder.
Petrobras has awarded the drillship Deepwater Frontier an estimated
700-day contract for drilling services offshore Brazil. The contract
is expected to commence during March 2004 in direct continuation
from the rig's current drilling program, also with Petrobras in
Brazil. The 700-day contract could generate revenues of up to approximately
$101 million.
The drillship Deepwater Pathfinder has received an estimated 110-day
contract from Marathon Oil Corporation for drilling services offshore
Nova Scotia in Eastern Canada. The rig is expected to commence the
contract in May 2004, following the completion of its current drilling
program in the U.S. Gulf of Mexico. The estimated 110-day contract
could generate revenues of up to approximately $17 million.
The drillships Deepwater Frontier and Deepwater Pathfinder are
two of the company's 32 High-Specification Floater rigs, 28 of which
are capable of operating in water depths of 4,500 feet and greater.
Statements regarding contract duration, contract commencement date
and contract revenues, as well as any other statements that are
not historical facts, are forward-looking statements that involve
certain risks, uncertainties and assumptions. These include but
are not limited to operating hazards and delays, risks associated
with international operations, actions by customers and other third
parties, the future price of oil and gas and other factors detailed
in the company's most recent Form 10-K and other filings with the
Securities and Exchange Commission (SEC), which are available free
of charge on the SEC's website at www.sec.gov. Should one or more
of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those indicated.
Transocean Inc. is the world's largest offshore drilling contractor
with full or partial ownership in 96 mobile offshore drilling units,
excluding the 70-rig fleet of TODCO, a publicly-traded drilling
company in which Transocean Inc. owns a majority interest.
The company's mobile offshore drilling fleet is considered one
of the most modern and versatile in the world due to its emphasis
on technically demanding segments of the offshore drilling business,
including industry-leading positions in high-specification deepwater
and harsh environment drilling units.
The company's fleet consists of 32 High-Specification Floaters
(semisubmersibles and drillships), 26 Other Floaters, 26 Jackup
Rigs and other assets utilized in the support of offshore drilling
activities worldwide. With a current equity market capitalization
in excess of $9 billion, Transocean Inc.'s ordinary shares are traded
on the New York Stock Exchange under the symbol "RIG."
For more information see Transocean
Inc
Posted by Richard Price,
Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
