DRILLING

Transocean delays new rigs amid downturn

OFFSHORE drilling contractor Transocean says its newbuild ultra-deepwater drillship Transocean Deepwater Proteus has arrived in the Gulf of Mexico to start work for Shell, but it has delayed four more new rigs in response to the tough market conditions and a fall in demand for its services.

Transocean delays new rigs amid downturn

The drillship is under a 10-year contract with a day rate of $US519,000 ($A672,842). It is one of 13 deepwater rigs under contract for Shell, although two of those are set to come off contract later this...

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