Swiss-based offshore contractor Transocean announced on 16 April that it was “awarded a five-well contract in the East Mediterranean Sea with an undisclosed operator.” The ‘Deepwater Asgard’ will undertake the estimated 390-day drilling campaign, expected to commence in Q4 this year and cost around $158mn.
ExxonMobil is most likely the operator. MEES understands that the US major plans to start drilling in the giant offshore Cairo block near the maritime border with Cyprus before the end of the year (MEES, 7 November 2025). A follow-up well at the adjacent Masry block is likely before the firm turns its attentions to Cyprus where in late March it declared commerciality of its Block 10 c.7tcf Glaucus and Pegasus discoveries (MEES, 10 April). (CONTINUED - 128 WORDS)