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October 22, 2009 (FinancialWire) -- Transocean Ltd. (NYSE: RIG | Quote | Chart | News | PowerRating) announced that the newbuild ultra-deepwater drillship Petrobras 10000 has commenced operations in Angola for a subsidiary of Petrobras under a 10-year drilling contract. Transocean has an agreement with the P&M Drilling International B.V. joint venture of Petrobras and Mitsui to acquire the rig under a 20-year capital lease contract.
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.
Other features include expanded completions capabilities, a variable deck-load of more than 20,000 metric tons and the capability of development and exploration drilling in greater than 10,000 feet of water depth.
FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.
Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
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