Transocean wins semi-sub contract, suffers termination of drillship contract

Transocean wins semi-sub contract, suffers termination of drillship contract

Offshore driller Transocean has announced a new contract for semi-submersible rig Transocean Barents only to reveal the early termination of drillship Discoverer India a few hours later.

Transocean Barents was awarded a 15-month contract with Suncor Energy to commence operations offshore Canada in the first quarter of 2017. With a dayrate of $260,000 the contract, excluding mobilisation, is worth $119m.

Meanwhile, India’s Reliance Industries exercised an option to terminate the contract for Discoverer India, effective December 2016. The contract was originally to run through to January 2021. Transocean will be compensated by Reliance with a lump-sum payment of around $160m.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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