04:42 PM EDT, 04/01/2024 (MT Newswires) -- Transocean ( RIG ) said Monday it extended its contract for the Deepwater Asgard with an independent operator in the US Gulf of Mexico by one year.

The contract's total value of around $195 million, including a lump sum payment of $10.9 million, is not factored into the estimated backlog of roughly $184 million, the company said.

The program is set to start in June 2024, in continuation of the rig's current operations, with added services, Transocean ( RIG ) said.

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