Transocean’s Dhirubhai Deepwater KG2 lands India work

Transocean secured a two-year binding letter of award for its ultra-deepwater drillship Dhirubhai Deepwater KG2 from India’s Oil and Natural Gas Corporation (ONGC). The program is set to begin in Q1 2027 and is estimated to contribute approximately $300 million in contract value, including additional services and mobilization fees.

The award includes two years of priced options that, if fully exercised, would keep the drillship working offshore India into early 2031. The Dhirubhai Deepwater KG2 has been idle since May 2026, when its prior contract with Petrobras offshore Brazil ended.

This is the second ultra-deepwater drillship ONGC has contracted this year, following a three-year deal awarded to Vantage Drilling’s Platinum Explorer in February.