Transocean "announced awards for its ultra-deepwater drillships, Deepwater Corcovado and Deepwater Orion, for work offshore Brazil with a national oil company. Together the two contracts represent approximately $1.04B in firm backlog. Deepwater Corcovado was awarded a four-year contract, which contributes an estimated $583M in backlog and is expected to begin in the third quarter of 2023 in direct continuation of the rig‘s current contract. Deepwater Orion was awarded a three-year contract, which contributes an estimated $456M in backlog and is expected to commence during the fourth quarter of 2023."
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