Transocean Ltd. announced on August 20, 2026, that it has received a two-year binding Letter of Award for the ultra-deepwater drillship Dhirubhai Deepwater KG2 with ONGC in India. The contract is valued at approximately $300 million.
The campaign is expected to commence in the first quarter of 2027. The announcement was made by Transocean, a leading international provider of offshore contract drilling services.
The contract will utilize the Dhirubhai Deepwater KG2, a high-specification ultra-deepwater drillship. This award adds to Transocean's backlog and strengthens its presence in the Indian offshore market.
Transocean stated that the contract reflects continued demand for its advanced drilling assets in key regions. The company did not disclose additional terms of the agreement.