Transocean, one of the world’s largest drilling contractors, has won a pair of contract extensions, one in India and the other one in Norway, but with reduced dayrates.

According to Transocean’s latest fleet status report, its ultra-deepwater drillship, the Dhirubhai Deepwater KG2, has been awarded a contract extension from Reliance for approximately three months offshore India. The contract started on August 15, 2015 and ends on October 15. The dayrate for the drillship has been slashed from $395,000 to $295,000.

Furthermore, Transocean’s semi-submersible drilling rig, the Transocean Barents, has been awarded a one well extension in the Norwegian North Sea with oil major Shell. The contract starts on September 15 and ends on October 15 with at a dayrate reduced from $547,000 to $300,000 ($10 million estimated backlog).

http://www.offshoreenergytoday.com/transocean-wins-two-extensions-with-dayrates-slashed/