Transocean Inc. has inked a five-year contract valued at about $1.2 billion with an unnamed client for a new drillship.
The Houston offshore drilling company has yet to name the ultra-deepwater drillship, which is part of a group of 10 units under construction as of Aug, 5, 2008.
Transocean (NYSE: RIG) expects to begin the contract at the end of 2010.
The drillship will be constructed at the Hyundai Heavy Industries shipyard in Ulsan, South Korea beginning early next year and will cost the company about $740 million to build.
The Houston offshore drilling company has yet to name the ultra-deepwater drillship, which is part of a group of 10 units under construction as of Aug, 5, 2008.
Transocean (NYSE: RIG) expects to begin the contract at the end of 2010.
The drillship will be constructed at the Hyundai Heavy Industries shipyard in Ulsan, South Korea beginning early next year and will cost the company about $740 million to build.