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Transocean secures new contracts, posts $10.8B total backlog

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Transocean secures new contracts, posts $10.8B total backlog

Swiss driller Transocean Ltd. added approximately $75 million in contract value in the third quarter, bringing its total backlog to $10.8 billion, according to its latest fleet status report released Oct. 17.

The company said that its Paul B. Loyd Jr. rig was granted an estimated 255-day contract in the U.K. North Sea by Hurricane Energy PLC. The Deepwater Nautilus rig bagged a 45-day contract in Brunei from oil major Royal Dutch Shell PLC.

In addition, Egyptian General Petroleum Corp. subsidiary Burullus Gas Co. exercised a one-well option for Transocean's Discoverer India rig for work in Egypt.