TRANSOCEAN AWARDED CONTRACT EXTENSIONS FOR TWO DRILLSHIPS IN BRAZIL

Transocean Ltd. announced that Petrobras has exercised a 680-day preexisting, fixed price option for the Deepwater Corcovado, and a 815-day preexisting, fixed price option for the Deepwater Mykonos. Together these contract extensions add approximately $297 million to Transocean’s industry leading backlog. Both rigs will continue to operate in Brazil and are subject to annual indexed dayrate escalations.
Deepwater Corcovado, (ex Ocean Rig Corcovado) and Deepwater Mykonos, (ex Ocean Rig Mykonos) are two 6th generation ultra-deepwater drillship built in 20111 at Gepje shipyard in South Korea by Samsung Heavy Industries.
The two drillships have been drilling for Petrobras for several years. Initial contracts with the Brazilian giant were extended for the first time in October 2014, then in March 2019.
Ocean Rig Corcovado started drilling offshore Greenland in 2011 for Cairn. After being upgraded at Vats Shipyard in Norway the drillship moved to Brazil in May 2012 to work for Petrobras.
Ocean Rig Mykonos mobilized for operations in Brazil upon its delivery from the shipyard in 201.
Transocean acquired Ocean Rig in September 2018 for 42.9 billion.
(Source: Transocean/Ocean Rig)