US-based oil and gas well drilling services provider Transocean has secured a long-term contract from an independent operator in the Gulf of Mexico.

The contract, which has a duration of 1,080 days, is for a high-specification seventh-generation, ultra-deepwater drillship.

Transocean said its three drill ships – Deepwater Invictus, Deepwater Thalassa and Deepwater Proteus – have been shortlisted for the job.

It will choose one of them no later than a year before the earliest date in the contract commencement window.

Excluding income from mobilisation and demobilisation, the contract will generate roughly $518m for the oil and gas field services provider.

The contract does not include any additional services and is expected to start between the fourth quarter of 2025 and the second quarter of 2026.

Transocean CEO Jeremy Thigpen said: “This award is especially encouraging on numerous fronts. The fact that our customers are securing rigs well in advance of their programmes and committing to long-term contracts clearly demonstrates the tightness of the market.

“Additionally, our ability to designate the specific rig closer to the commencement of the programme provides us with increased flexibility to optimise the utilisation of our high-specification fleet of ultra-deepwater drillships.”

Earlier this year, Transocean secured contracts and extensions worth approximately $488m in total for five of its drilling rigs from an undisclosed company.

The three-well contract was for its ultra-deepwater drillship in the US Gulf of Mexico.