Drilling sources said that Transocean had initially bid a day-rate of $601,000 for the GSF Explorer, which is capable of operating in 1400 metres of water.
However, they added that after the first round of negotiations Transocean agreed to bring down the day-rate to $589,000.
ONGC needs the drillship for a major appraisal campaign in the Indian offshore on a two-year contract but it is not convinced with the day-rate Transocean is offering.
Sources
