(WO) — Transocean has secured a two-year binding Letter of Award with India’s Oil and Natural Gas Corporation (ONGC) for the Dhirubhai Deepwater KG2 ultra-deepwater drillship.
The drilling campaign is expected to begin in the first quarter of 2027 and contribute approximately $300 million in contract value, including additional services and mobilization fees.
The award also includes two years of priced options. If fully exercised, the options could keep the Dhirubhai Deepwater KG2 working in India into early 2031.
The contract adds to Transocean’s ultra-deepwater backlog and extends the drillship’s presence in the Indian offshore market.
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