Transocean Ltd. has received a 680-day preexisting, fixed price option for the Deepwater Corcovado, and an 815-day preexisting, fixed price option for the Deepwater Mykonos from Petrobras on Nov. 18.

Together these contract extensions add approximately $297 million to Transocean’s industry leading backlog. Both rigs will continue to operate in Brazil and are subject to annual indexed day rate escalations.