Transocean lands $531m drillship contract in US Gulf

Swiss-based offshore drilling giant Transocean has secured a $531m contract from BP for operations in the US Gulf of Mexico.

The contract will see drillship Deepwater Invictus on hire for about 1,095 days starting in the first quarter of 2025.

The 2014-built floater was previously named as one of the three rigs earmarked for another $518m three-year contract offshore Mexico set to begin in February 2026.

Transocean said the value of the new deal, which comes hot on the heels of BP’s green light for the Kaskida development in the US Gulf, excludes costs of additional services and a mobilisation fee.

Last week, the New York-listed rig owner and operator also revealed floater deals for Deepwater Atlas and Deepwater Mykonos in the US Gulf of Mexico and Brazil.