Switzerland-based offshore drilling contractor Transocean has won a new long-term assignment for a 2010-built ultra-deepwater drillship with India’s government-owned energy giant Oil and Natural Gas Corporation (ONGC).

Transocean has secured a two-year binding letter of award (LOA) for the 2010-built Dhirubhai Deepwater KG2 sixth-generation ultra-deepwater drillship with ONGC in India.

This campaign is expected to begin in the first quarter of 2027 and contribute approximately $300 million in contract value, inclusive of additional services and mobilization fees.

The contract includes two years of priced options that, if fully exercised, would result in the drillship working in India into early 2031.

The 2010-built Dhirubhai Deepwater KG2 drillship, which is of Samsung 12000 double hull design, was constructed at Samsung Heavy Industries in Geoje, South Korea.

With a maximum drilling depth of 35,000 feet, the rig, which is capable of drilling in water depths up to 12,000 feet, can accommodate 180 people.

Transocean recently obtained multiple contracts, including deals for three of its harsh-environment semi-submersible rigs with Equinor offshore Norway.