Transocean secures $300 million contract with ONGC in India

Transocean Ltd. has announced a binding two-year Letter of Award with ONGC in India for its ultra-deepwater drillship, the Dhirubhai Deepwater KG2. The contract is expected to commence in the first quarter of 2027.

The agreement carries an estimated contract value of approximately $300 million, which includes mobilization fees and additional services. The contract also features two years of priced options; if these options are fully exercised, the drillship's operations in India could extend into early 2031.