West Africa remains a lucrative market for deepwater rig contractors, with ultra-deepwater (>7,500ft) fixtures expected to fetch rates in the high USD 500,000s or low USD 600,000s. Transocean has secured a rate of USD 530,000 from HRT Oil & Gas for a 280-day charter of Transocean Marianas off Namibia; it is the first time since 2008 that a rig outfitted for maximum water depths of less than 7,500ft has commanded a fixture above USD 500,000 in the region. The jackup market is also extremely tight, with very few rigs available before the end of 2012. This year has seen the reactivation of seven cold-stacked jackups, although only one of these will be staying in West Africa.
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