has been awarded contracts for two High-Specification drillships, the Deepwater Millennium and the Deepwater Expedition, for drilling operations in the U.S. Gulf of Mexico
and offshore Egypt
The Deepwater Millennium, a Fifth-Generation, dynamically positioned drillship, has been awarded a two-year contract by Anadarko Petroleum Corporation (APC)
for drilling operations in the U.S. Gulf of Mexico
. Revenues of approximately $209 million could be generated over the two-year contract.
The Deepwater Expedition, also a Fifth-Generation, dynamically positioned drillship, has been awarded a three-well, estimated 90-day contract plus a 30-day option well from a Shell subsidiary for drilling operations offshore Egypt in the eastern Mediterranean Sea
. Following the completion of the rig's current contract with Petrobras
, which is expected to conclude in October 2005, the Deepwater Expedition will commence an estimated 30-day mobilization to Egypt and is expected to begin the 90-day contract in November 2005. Revenues of approximately $22 million could be generated over the estimated 90-day contract period.
The Deepwater Millennium and Deepwater Expedition are two of 32 High-Specification rigs in the Transocean Inc. fleet, 13 of which are Fifth-Generation Deepwater Floaters. The rigs entered active service as newbuild drillships in 1999.