Transocean Ltd's Petrobras 10000 commences drilling contract in Angola

Posted on: Tue, 20 Oct 2009 04:55:00 EDT


Symbols: RIG
Oct 20, 2009 (M2 EQUITYBITES via COMTEX) --
RIG | Quote | Chart | News | PowerRating -- Offshore drilling contractor Transocean Ltd (NYSE:RIG) declared on
Monday that the company's newbuild ultra-deepwater drillship Petrobras
10000 has started operations in Angola under a ten year drilling
contract with a subsidiary of Petrobras.
A
Transocean has acquired the rig pursuant to a 20-year capital lease
contract with the P&M Drilling International BV joint venture of
Petrobras and Mitsui.
A
The Petrobras 10000 is one of 21 Ultra-Deepwater Floaters in the
Transocean fleet. The rig features Transocean's patented dual-activity
drilling technology, allowing for parallel drilling operations designed
to save time and money in deepwater well construction, compared with
conventional rigs.

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