Two Transocean deepwater drillships deliveries delayed

By Finance

The world’s largest offshore driller, Transocean Ltd has announced that it will delay the delivery of two new ultra-deepwater drillships.

The drillship construction contracts with the Singaporean Jurong Shipyard, evaluated for $540 million each will be delayed with 2 years.

Both deepwater drillships are scheduled to be delivered in the second quarter of 2019 and the first quarter of 2020, respectively.

Image: EnergyPedia

From the middle of May this year, the Swiss-based Transocean Ltd has won contracts valued for $109 million, which is the highest amount reached for the company in 2015. The orders come at a time, when crude oil prices are decreasing.

According to the financial report of the company, the figure is two times more than the reported in May of about $52 million and nearly five times over than the $22-million average of the first five months of 2015.

The Swiss company also reported idling two more rigs, GSF Monarch and Transocean Spitsbergen and stacking a third GSF C.R. Luigs, which was previously idle.

Last month, Transocean announced that it had amended its construction contracts with Keppel FELS to delay delivery of five new jackups. The amendment was in addition to a six-month delay announced in February 2015.