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    Transocean secures jack-up contracts

    Contracts, Tenders and Rates // August 1, 2003
    Transocean Inc has announced that subsidiaries of the company have been awarded contracts for three international jack-up rigs from Oil and Natural Gas Corporation (ONGC), the state-oil company of India.

    The ONGC contracts for the three jack-up rigs, Trident XII, Ron Tappmeyer and Randolph Yost, are each for a duration of three years with an expected commencement date of October 2003, following the completion of each unit's current drilling program and mobilization to India.

    Revenues expected to be generated from the three contracts total approximately $203 million, exclusive of mobilization fees to be paid for each unit by the customer.

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