DEEPWATER POSEIDON COMMENCES TEN-YEAR CONTRACT WITH SHELL

February 20, 2018

Transocean advised that on February 12, 2018, the newbuild ultra-deepwater drillship Deepwater Poseidon commenced operations on its 10-year contract with Shell in the U.S. Gulf of Mexico. Deepwater Poseidon built by Daewoo at Okpo shipyard in South Korea is capable to drill in water depths up to 12,000 ft.
Transocean also announced the following contract awards:
• Deepwater Asgard – Awarded a three-well contract plus a one-well option in the U.S. Gulf of Mexico;
• Deepwater Invictus – Awarded a two-well contract extension in the U.S. Gulf of Mexico;
• Discoverer India – Awarded a five-well contract offshore the Ivory Coast;
• Dhirubhai Deepwater KG2 – Awarded a three-well contract plus five one-well options offshore Myanmar;
• Dhirubhai Deepwater KG1 – Awarded a six-well contract plus options offshore India;
• Deepwater Nautilus – Awarded a one-well contract plus three one-well options offshore Brunei;
• Transocean Spitsbergen – Awarded a 22-well contract plus one three-well option and two one-well options in the Norwegian North Sea;
• Paul B. Loyd, Jr. – Awarded a one-well contract in the U.K. North Sea;
• Transocean Leader
Amendment, that replaces the previous contract scheduled to expire in May 2019, is comprised of 210 days commencing in July of 2018 in the U.K. North Sea; and
Awarded a 90-day contract plus a one-well option in the U.K. North Sea with another customer.
• Transocean Arctic – Awarded two contracts with different customers in the Norwegian North Sea as follows:
Three-well contract plus two one-well options; and four-well contract.
(Source: Transocean)