HOUSTON (AP) — Transocean Ltd. said Friday that Royal Dutch Shell has entered into 10-year contracts worth $7.6 billion for four ships that will be used to drill for oil in deep water.
The estimated revenue backlog doesn’t include costs of putting the ships in service. Transocean said investment for the rigs will be about $3 billion excluding interest.
Transocean said the first of the ships is expected to be delivered in mid-2015 with the others following every six months. They will be built in South Korea by Daewoo Shipbuilding and Marine Engineering Co.