Transocean’s drillship to remain in India under a newly signed $111 million contract.

Reliance Industries Limited, an Indian oil company, has exercised an option to use the Dhirubhai Deepwater KG1 drillship for a four-well drilling program in India. This brings in $111 million to Transocean, the offshore drilling contractor. The estimated 270-day program will begin in direct continuation of the rig’s firm term with Reliance, which was agreed upon in September 2024 for a six-well drilling job. This new contract adds to the company’s backlog, expected to contribute approximately $123 million. The Dhirubhai Deepwater KG1 drillship is capable of operating in water depths of up to 12,000 feet and drilling depths of up to 35,000 feet. If all options are exercised, the rig could remain in India through the end of 2029.