Discoverer India for Reliance

Vol 13, PW 25 (03 Jun 10) News in Brief

Transocean drillship Discoverer India is set to join the fleet of deepwater rigs drilling for Reliance on India’s eastern offshore.

PETROWATCH learns equipment from service providers is being fitted on the ‘new-build’ rig at Daewoo’s yard in South Korea before she sets off for India. Dynamically positioned Enterprise-class Discoverer India will be one of the most modern rigs in the Transocean fleet and able to operate in 10,000-feet water depths and drill up to 35,000 feet below the seabed.

Reliance has hired this rig for five years with options to extend the contract to seven or 10 years. For the first six months of the five year contract Reliance will pay $537,000/day and $557,000/day for the remainder.

If Reliance extends the contract, the rates will be linked to crude prices. Discoverer India will join Transocean rigs Dhirubhai Deepwater KG-2, on hire to Reliance from March 2010 till February 2015, and Deepwater Frontier, hired from August 2008 till August 2011.