Transocean Ltd.
Transocean Announces $531 Million Contract with bp
Summary
On July 31, 2024, Transocean Ltd. announced a 1,095-day contract for the Deepwater Invictus with bp in the U.S. Gulf of Mexico, expected to commence in Q1 2025 and contribute approximately $531 million in backlog. The announcement was made via Regulation FD Disclosure (Item 7.01) and the contract details are provided in the attached press release (Exhibit 99.1).
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About Transocean Ltd.
Transocean Ltd. is a leading offshore drilling contractor known for providing services in the exploration and production of oil and natural gas. Its primary function is to offer extensive deepwater and ultra-deepwater drilling capabilities to major oil companies worldwide. Operating one of the most advanced fleets in the industry, Transocean owns and manages a range of drilling rigs, with capabilities to work in harsh environmental conditions and at extreme water depths, showcasing its technological prowess. The company significantly impacts the energy sector, supporting the search for hydrocarbon resources in offshore locations globally. Headquartered in Switzerland, Transocean is a pivotal player in satisfying the global demand for fossil fuels, influencing energy supply chains and economic activities linked to oil markets. Its advanced technological solutions cater to an industry where safety, efficiency, and environmental considerations are paramount, thereby securing its position as a crucial partner for global energy companies.
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