Transocean Loses Drillship Contract with Statoil

Published at 09:26AM - 18/12/15

Statoil has cancelled its contract with Transocean, for the ultra deepwater drillship, the Discoverer Americas, due to lack of offshore drilling work.

Transocean Loses Contract

In a press release, Statoil said it was ‘in the current environment unable to secure additional activity for the rig’.

The drillship had been on a ten month contract with the Norwegian state owned Statoil.  Starting in  May 2015, the lease of the rig was due to continue to March 2016 at a day rate of US$ 690,000.

The Discoverer Americas had been on successive contracts with Statoil since it was delivered to Transocean back in 2009.  The previous contract between the two parties, for the drillship, ran at a day rate of US$ 735,000.

Commenting on the news, Statoil head of rig procurement,  Tore Aarreberg, said: “Discoverer Americas has been a very good performer for Statoil, contributing to test deep-water and ultra-deep water prospectivity in Tanzania, Egypt, and the Gulf of Mexico and appraising the multiple high-impact discoveries in Tanzania.”

“All operations were performed with solid drilling efficiency and a good safety culture. Without additional activity lined up, we unfortunately have to let the rig go prior to contract end,” says Tore Aarreberg, head of rig procurement.”

Transocean said: “Transocean will receive an early termination payment fully compensating the company as provided for in the contract.”

Discoverer Americas

The Transocean Discoverer Americas ultra deepwater drillship had been working, across Statoil’s licences, in North and East Africa and Gulf of Mexico.

Launched in 2009 the drillship was capable of working in a water depth of 12,00 feet (3658 m) and drill to a depth of 40,000 feet (12,192 m).