Transocean Ltd. announced yesterday that the newbuild ultra-deepwater drillship Petrobras 10000 has commenced operations in Angola for a subsidiary of Petrobras under a 10-year drilling contract.

Transocean has an agreement with the P&M Drilling International
B.V. joint venture of Petrobras and Mitsui to acquire the rig under a
20-year capital lease contract.

The Petrobras 10000 is one of 21 Ultra-Deepwater Floaters in the
Transocean fleet. The rig features Transocean’s patented dual-activity
drilling technology, allowing for parallel drilling operations designed
to save time and money in deepwater well construction, compared with
conventional rigs. Other features include expanded completions
capabilities, a variable deck-load of more than 20,000 metric tons and
the capability of development and exploration drilling in greater than
10,000 feet of water depth.

Source: Transocean Ltd.

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