New Cajun Express semi starts first contract

Transocean Sedco Forex Inc. says its newly constructed ultra-deepwater semisubmersible drilling rig Cajun Express has completed acceptance testing and commenced an 18-month contract with Marathon Oil Company (Marathon) in the US Gulf of Mexico. Total revenues to be generated over the 18-month contract duration are approximately US$106 million.

The Cajun Express. Courtesy: Transocean Sedco Forex.

The dynamically positioned Cajun Express, designed to drill in water depths of up to 8,500 ft, is the first of the company's three Sedco-Express-class semisubmersible rigs to be placed into service. Designed to reduce total well construction time by up to 25%, the new semi features the company's patented "Tri-Act" derrick and automated, dual pipe-handling and racking machines.

The rig is currently in transit to its initial well with Marathon at Mississippi Canyon block 348.

Source: Transocean Sedco Forex