Transocean Gets Contract For Deepwater Aquila; To Acquire Outstanding Interests In Liquila Ventures

(RTTNews) - Transocean Ltd. (RIG) announced a three-year award for the ultra-deepwater drillship Deepwater Aquila with a national oil company for work offshore Brazil. The contract represents approximately $486 million in firm backlog, excluding a mobilization fee.

Transocean has also agreed to acquire the outstanding interests in Liquila Ventures Ltd., a company formed to acquire the Deepwater Aquila, from its joint venture partners.

The company said it is exploring various debt financing alternatives to partially fund the costs associated with acquiring the rig from the shipyard and preparing for its contract in Brazil.