Transocean said on Friday that the contract extension was for the ultra-deepwater drillship Petrobras 10000.
The company added that the contract was extended by 790 days and that the vessel would work offshore Brazil.
The contract is extended through October 2021 and includes a blend and extend modification to the previous contract dayrate, effective September 2018. The additional net contract backlog is approximately $185 million, including cost escalations.
Additionally, Transocean will receive a 5% royalty per day, totaling approximately $16 million, estimated to be from October 2018 to October 2021 associated with the use in Brazil of the company’s patented dual-activity technology on the Petrobras 10000.
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