Transocean Ltd. (NYSE: RIG) (Transocean) announced that Reliance Industries Limited awarded a binding Letter of Award for the Dhirubhai Deepwater KG1 for six wells offshore India. The estimated 300-day program is expected to commence in the second quarter of 2026 and is estimated to contribute approximately $123 million in backlog, excluding additional services and a mobilization fee. The award also includes multiple options. If all options are exercised, the rig would remain in India through the end of 2029.
About Transocean
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.
Transocean owns or has partial ownership interests in and operates a fleet of 34 mobile offshore drilling units, consisting of 26 ultra-deepwater floaters and eight harsh environment floaters.
About Reliance
Our quest to make India energy sufficient led us to become one of the largest oil & gas exploration and production players in India. Our refinery at Jamnagar is the world’s largest, integrated, single-location refining complex. It has transformed India from being a net importer of petroleum products to a net exporter.
Today, Reliance is among the first companies globally to adopt an Oil-to-Chemicals (O2C) strategy to produce the chemical building blocks of a circular economy and integrate it with sustainable downstream derivatives, useful chemicals, and new materials.