RIL hires rigs from Transocean Inc

RIL has reportedly hired three ultra deep sea drilling rigs for US$2.86bn from Transocean Inc of the US for its oil and gas exploration campaign, particularly in the prolific eastern offshore KG-D6 fields. The gas production from KG-D6 is expected to commence from next month. Reliance will pay approximately US$928mn each for Dhirubhai Deepwater KG-1 and KG-2 drillships and another US$1.01bn for a yet-to-be-named Enterprise-class drillship. All the three rigs are under-construction and Reliance will receive Dhirubhai Deepwater KG1 drillship, capable of drilling up to 35,000 feet in water depths of 12,000 feet, in the third quarter of 2009 calendar year, according to Transocean, report stated.