Transocean’s Drillship to Stay in Gulf of Mexico Under $195M Contract Extension

Deepwater Asgard (Credit: Transocean)
Deepwater Asgard (Credit: Transocean)

Offshore drilling contractor Transocean has secured a contract extension for its Deepwater Asgard drillship with Hess Corporation for operations in the U.S. Gulf of Mexico.

The 365-day contract extension for Deepwater Asgard is valued at $195 million. It includes a $10.9 million lump sum payment, which is not included in the estimated backlog of approximately $184 million.

The program is expected to start in June 2024 in direct continuation of the rig’s current program and includes additional services.

The drillship has been on a dayrate $440,000 in U.S. Gulf of Mexico under contract with Hess Corporation which expired in April 2024, up from $395,000 paid under previous contract.

Deepwater Asgard, built in 2014, is an ultra deepwater drillship of DSME 12000 design. With a maximum drilling depth of 40,000 ft, the rig is able to operate in water depths of up to 12,000 ft, and can accommodate 200 people.

Current News

ABS Grants AIP for CLS Wind's Offshore Wind Installation Technology

ABS Grants AIP for CLS Wind's

Windcatcher Receives AIP from DNV

Windcatcher Receives AIP from

Valaris Nets $498M Drillship Contract with Equinor for Ops Offshore Brazil

Valaris Nets $498M Drillship C

PXGEO Extends Siem Dorado MPSV’s Stay

PXGEO Extends Siem Dorado MPSV

Subscribe for OE Digital E‑News

Offshore Engineer Magazine