RIL leases ultra-deepwater drillship for exploration

RIL has awarded a five-year drilling contract to a joint venture of Transocean and Pacific Drilling to construct and operate a brand new ultra-deepwater drillship to boost its eastern offshore exploration campaign

Reliance Industries Ltd (RIL) has leased a brand new ultra-deepwater drillship to boost its eastern offshore exploration campaign, reports PTI.

"The newly-built ultra-deepwater drillship ‘Dhirubhai Deepwater KG2’ commenced operations for RIL in India under a five-year drilling contract," Transocean Ltd, which built the rig, said in a statement.

RIL had awarded a five-year drilling contract to a joint venture of Transocean and Pacific Drilling to construct and operate the drillship. RIL will pay $495,000 per day for the Samsung-designed drillship for the first six months and $510,000 per day for the remaining period of the contract.

"The dynamically positioned ‘Dhirubhai Deepwater KG2’, one of the 24 ultra-deepwater floaters in the Transocean fleet, includes the most advanced drilling capabilities in the offshore drilling industry," the statement said.

Transocean is also building an enhanced Enterprise-class drillship, named ‘Discoverer India’, for RIL. Operations are expected to commence during the fourth quarter of 2010.

RIL will pay a day rate of $537,000 for the first six months for ‘Discover India’ and $557,000 for the remaining period of the initial five-year contract. The company can extend the term of the drilling contract to seven or 10 years.

The company currently has four deep-sea drill rigs from Transocean for exploratory and development drilling in its portfolio of blocks that includes gas discovery blocks D6 and NEC-25.
 

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    COMMENTS

    Satish Agrawal

    1 decade ago

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