Transocean Secures $300 Million Offshore Drilling Contract with India’s ONGC
Transocean has secured a two-year binding award with ONGC for the Dhirubhai Deepwater KG2 in India, adding approximately $300 million in contract value with options that could extend the drillship’s campaign into early 2031.
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Transocean has received a two-year binding Letter of Award from India’s Oil and Natural Gas Corporation (ONGC) for the ultra-deepwater drillship *Dhirubhai Deepwater KG2*.
Scheduled to begin in the first quarter of 2027, the drilling campaign is projected to generate roughly $300 million in contract value, which encompasses mobilization fees and additional services.
The agreement also features two years of priced options. If ONGC fully exercises these options, the drillship could remain active in India until early 2031.
This contract further expands Transocean’s ultra-deepwater backlog and prolongs the vessel’s operations in the Indian offshore sector.
