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Transocean announces $382M in harsh environment contract awards with Equinor
The Fly

Transocean announces $382M in harsh environment contract awards with Equinor

Transocean announced contract awards for two of its harsh environment semisubmersibles. Together, the fixtures represent approximately $382M in firm contract backlog. Transocean Enabler will provide drilling services for 19 firm wells and up to eight optional wells for Equinor on the Johan Castberg field in the Barents Sea. The estimated 570-day contract is expected to commence in April 2024 and contribute approximately $217M in backlog, excluding additional services and potential performance bonuses.Transocean Encourage will provide drilling services for nine firm wells for Equinor in the Norwegian North Sea. The contract is expected to commence in December 2023 in direct continuation of the rig‘s current program. The estimated 460-day contract is expected to contribute approximately $165M in backlog, excluding additional services and potential performance bonuses. "We are pleased to secure these new contracts and to further strengthen our relationship with Equinor," said Jeremy Thigpen, Transocean’s Chief Executive Officer. "These contracts and our strategic collaboration agreement demonstrate our long-term commitment to working together to provide innovative solutions that deliver value to both our companies."

Published first on TheFly

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