Reliance signs a 5 year drilling contract with Transocean Ltd

Transocean Ltd’s new ultra deepwater drillship Dhirubhai Deepwater KG2 is at work offshore India for Mukesh Ambani's Reliance Industries under a five-year contract. The vessel is a joint venture between Transocean and Pacific Drilling Ltd.

The dynamically positioned vessel has National Oilwell Varco drilling packages, off-line tubular-handling and stand-building capacity, advanced mud systems, and can build, store and run several subsea trees, says Transocean. In addition, the vessel has a variable deckload of 20,000 metric tons (22,046 tons), can work in waters to 12,000 ft (3,658 m) of depth and drill to 35,000 ft (10,668 m).

Source:http://www.businessweek.com/ap/financialnews/D9EAM6401.htm