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BP extends contracts for Transocean high-spec rigs
(4/27/2004 - OGI: Houston) Transocean said today that BP has extended the
contracts on two of its high-specification deepwater rigs, the drillship
Discoverer Enterprise and the semisubmersible Deepwater Horizon.
The Discoverer Enterprise contract extension is for three years and is
expected to commence during December 2004. Revenues of approximately US$200
million could be generated over the three-year extension. The contract
extension for the Deepwater Horizon is for one year and is expected to
commence in September 2004, with revenues of approximately $60 million
possible over the one-year extension.
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The Deepwater Horizon (left) and The Discoverer Enterprise. |
The Discoverer Enterprise and Deepwater Horizon, both currently operating in
the US Gulf of Mexico, have been under contract to BP since the rigs began
service in December 1999 and September 2001, respectively, and represent two
of the company's 32 high-specification floaters, 28 of which are capable of
operating in water depths of 4,500 ft or greater. Both rigs are equipped
with dynamic positioning technology for maintaining station and are capable
of drilling in water depths of up to 10,000 ft. The Discoverer Enterprise is
equipped with the company's patented dual-activity drilling technology,
which saves time by allowing drilling tasks to be performed in parallel,
rather than sequentially as with conventional offshore drilling rigs.
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