Transocean lands $ 1 bn renewal contract with BP

Jun 19, 2008 02:00 AM

A BP subsidiary has renewed a contract worth as much as $ 1.06 bn for an ultra-deepwater rig with US giant Transocean.
The company’s GSF Development Driller II, capable of drilling in water depths of 7,500 feet (2,286 metres) was awarded a five-year contract extension to start in November of this year.