Transocean wins four drilling contracts from Shell

Sept 28 Fri Sep 28, 2012 9:30am EDT

Sept 28 (Reuters) - Transocean Ltd said it was awarded four ultra-deepwater drillship contracts by Royal Dutch Shell Plc, adding an estimated $7.6 billion to the offshore driller's revenue backlog.

Transocean expects to spend $3 billion on the four new rigs being built at a shipyard in South Korea. The company earlier this month said it was selling 38 less-capable rigs to focus on more lucrative shallow-water units.

Shipyard delivery for the first drillship to Shell is scheduled for mid-2015. The remaining three drillships will be delivered at about six-month intervals, Switzerland-based Transocean said on Friday.

The 10-year contracts with Shell are expected to start in 2015 and 2016.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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