Transocean Secures $111M Contract Extension From Reliance Industries

Transocean Ltd. (RIG) recently announced its $111 million contract extension with India-based Reliance Industries Limited, secured for its deepwater drillship, Dhirubhai Deepwater KG1. The contract lays down a 270-day program that will commence immediately after the existing contract. The immediate continuation of drillship services after the existing contract will minimize the idle time of the rig, enhance operational efficiency, optimize the rig’s utilization and strengthen Transocean’s foothold in the As ...