Transocean (RIG) Wins Two-Year Contract for its Marianas Semisubmersible Valued at $412M
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Transocean Inc. (NYSE: RIG) today announced that its deepwater moored semisubmersible Transocean Marianas, capable of drilling in water depths up to 7,000 feet, has been awarded a two-year contract by a subsidiary of Eni. The contract is scheduled to commence in December 2009 following completion of the rig's existing contract commitments in the U.S. Gulf of Mexico.
Estimated contract revenues that could be generated over the two-year contract period are approximately $412 million. Estimated contract revenues represent the maximum amount of revenues that may be earned in the contract period, excluding revenues for cost escalations.
Transocean, Inc., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells.
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