India-based oil company Reliance Industries Limited has exercised an option under the previously agreed firm contract with Transocean for its Dhirubhai Deepwater KG1 drillship.
Offshore drilling contractor Transocean informed that a four-well option was exercised by Reliance Industries for work in India, brining in $111 million to the company.
The estimated 270-day program is expected to begin in direct continuation of the rig’s firm term with Reliance, agreed in September 2024 for a six-well drilling job.
Under that contract, Transocean and Reliance agreed an estimated 300-day program for the Dhirubhai Deepwater KG1, expected to begin in the second quarter of 2026, and contribute approximately $123 million in Transocean’s backlog.
The contract included option, according to Transocean, which said if all options were exercised the rig would remain in India through the end of 2029.
The Dhirubhai Deepwater KG1 drillship, built by Samsung Heavy Industries in 2009, is capable of operating in water depths of up to 12,000 ft (3.657 m) with a maximum drilling depth of 35,000 ft (10.668 m).
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