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Driller secures drillship charters in US Gulf and Egypt


Deep-water double for Transocean



By Upstream staff 

US drilling contractor Transocean has been awarded contracts for two high-specification drillships - the Deepwater Millennium and the Deepwater Expedition - for drilling operations in the Gulf of Mexico and Egypt's offshore, respectively.

The Deepwater Millennium, a fifth-generation, dynamically positioned drillship, has secured a two-year contract with Anadarko Petroleum for drilling in the US Gulf. Revenues of approximately $209 million could be generated over the two-year chartrer period.

This contract takes the place of a six-month firm contract with two previously reported and unexercised options with Anadarko that could have generated maximum, combined revenues of approximately $146 million over the 18-month period. The new contract assures Anadarko rig access for its deep-water portfolio over the next two years.

The Deepwater Expedition, also a fifth-generation, dynamically positioned drillship, has been awarded a three-well, estimated 90-day contract plus a 30-day option well from a Shell subsidiary for drilling operations off Egypt in the eastern Mediterranean Sea.

Following completion of the rig's current contract with Petrobras in Brazil, which is expected to conclude in October 2005, the Deepwater Expedition will start an estimated 30-day mobilisation to Egypt and is expected to begin the 90-day contract in November. Revenues of approximately $22 million could be generated over the estimated 90-day contract period.


Monday, 13 June, 2005, 12:19 GMT  | last updated: Monday, 13 June, 2005, 12:19 GMT

Work: the drillship Deepwater Millennium will drill for Anadarko in the US Gulf
 

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