Transocean delays delivery of two drillship newbuilds

By Curious

Transocean has reached an agreement with client Shell and Korean yard Daewoo Shipbuilding & Marine Engineering (DSME) to delay the operating and delivery contracts of two newbuild ultra-deepwater drillships - the Deepwater Pontus and the Deepwater Poseidon - by 12 months each.

Transocean delays delivery of two drillship newbuilds

Image: / lappino

The delay has no impact on the duration or dayrate of the original 10-year operating contracts for each of the two newbuild ultra-deepwater drillships. Parties will be compensated for the postponement. The specific terms are not disclosed.

The delivery and operating agreements for Shell's two other contracted Transocean newbuild, ultra-deepwater drillships, the Deepwater Thalassa and Deepwater Proteus, are not impacted by this agreement.

"We are pleased that the strength of our relationships with both Shell and DSME has enabled us to reach this mutual agreement," said Transocean President and Chief Executive Officer Jeremy Thigpen. "We are excited by the progress that we have jointly made with Shell on all four high-specification, ultra-deepwater drillships, including the Deepwater Thalassa, which was delivered this September, and the Deepwater Proteus, which is scheduled for delivery this December."