Swiss-based offshore driller Transocean has been awarded a binding letter of award for one of its drillships.
Reliance Industries awarded the LoA to the Dhirubhai Deepwater KG1 drillship for six wells offshore India.
The 300-day program is expected to begin in the second quarter of 2026 and will contribute approximately $123m in backlog, excluding additional services and a mobilisation fee.
The award also includes multiple options. The rig would remain in India through the end of 2029 if all options were exercised.
The 2009-built drillship has been working for ONGC since May 2024 and will complete its contract in February 2026. It is working under a $347,500 dayrate.
Transocean also announced that it had entered into agreements with a third party to sell two of its rigs for a total of $342m. The company would be selling its Development Driller III and the Discoverer Inspiration, with their associated assets, for $195m and $147m respectively.