Transocean delays newbuild delivery

Sweden

ZURICH, October 27, 2015 – Transocean and Shell have decided to delay the delivery and operating contracts of two newbuild drillships for a year, the offshore drilling contractor announced in a company statement on Monday.

Under the new terms of the agreement, Transocean will deliver the ultra-deepwater drillships, Deepwater Pontus and Deepwater Poseidon, in 2018 to begin 10-year contracts.

While the duration of the contract will not be affected, the “parties will be compensated for the postponement,” Transocean said. However, the details of the compensation have yet to be disclosed.

Both drillships are capable of reaching water depths of 3,657 metres and a drilling depth of 12,191 metres.

This delay has not affected Transocean’s delivery and operating contracts for Shell’s order of two ultra-deepwater ships, Deepwater Thalassa and Deepwater Proteus.

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