The Hindu Business Line : Transocean Pacific rigs named after Dhirubhai Ambani

Reliance Industries has entered into a five year drilling contract with ultra-deepwater drill-ship Dhirubhai Deepwater KG2 (formerly Deepwater Pacific 2). The rig owned by Transocean Pacific Drilling Ltd — a joint venture between Transocean and Pacific Drilling — is under shipyard construction and is expected to be ready for mobilisation in 2010.

The contract is estimated to cost Reliance $928 million (approximately Rs 3,700 crore), according to a release issued by Transocean Inc on Monday.

KG1

The Indian energy major has also extended the contract period from four to five years for the previously contracted Dhirubhai Deepwater KG1 (formerly Deepwater Pacific1). The rig — also owned by Transocean Pacific Drilling — is under construction too. The total contract consideration for Dhirubhai Deepwater KG1 is also estimated to be $928 million.

The two drillships are currently under construction at Samsung Heavy Industries’ shipyard in South Korea.

According to available information, Reliance Industries Ltd (RIL) has committed to drill 73 wells in the three NELP-I blocks, five NELP-III blocks and one pre-NELP block, requiring more than 12 rigs to accomplish the programme. Against this the company currently has access to six drill ships.

Interesting Rig name

Interestingly enough, despite being owned by Transocean Pacific Drilling, both the rigs are apparently renamed after the late Dhirubhai Ambani — the founder of Reliance. “It is unique that rigs are named after the company that’s hiring the services,” a veteran in India’s E&P circle told Business Line.

Reliance sources only said that they had no sort of ownership control or stake over the rig and its activities other than awarding the contract for drilling at its E&P assets in India.

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