Transocean Ltd. (NYSE: RIG) has secured a new assignment with the British oil major, BP plc (NYSE: BP), in the U.S. Gulf of Mexico. The company's Deepwater Atlas ultra-deepwater drillship has been contracted for the assignment. The contract, valued at $232 million, has a duration of 365 days, with a 365-day option. Work related to the assignment is expected to begin in the second quarter of 2028.
The Deepwater Atlas drillship is one of the two eighth-generation drillships to join Transocean's fleet in 2022. Notably, it is known to be one of the first drillships to be equipped with 20,000-psi well control capabilities, along with a hoisting capacity of 3.4 million pounds. Another eighth-generation drillship, Deepwater Titan, joined Transocean's fleet the same year. With the help of these drillships, the Gulf of Mexico region is entering a new exploration phase under ...
