Equinor hands Transocean $1bn Norwegian rig deal
Transocean secures over $1bn in backlog across seven rig years for three harsh-environment semisubmersibles on the Norwegian shelf.
Swiss-based offshore drilling giant Transocean has entered into an agreement with Equinor for the use of three of its harsh environment semisubmersible rigs on the Norwegian shelf.
In aggregate, the agreement represents over $1bn in contract backlog across seven rig years, excluding additional services. The base day rate of $399,000 per day excludes adjustment provisions that will be effective prior to commencement and result in an effective day rate exceeding $400,000 per day at commencement. The agreement applies to three Cat D rigs designed for Norwegian winter conditions and originally purpose-built for Equinor.
The Transocean Enabler was awarded a three-year program expected to commence in the first quarter of 2028 in direct continuation of the rig's current program. The Transocean Encourage won a two-year program, which will also start in the first quarter of 2028 as a direct continuation of its current program. The third deal was awarded to the Transocean Endurance for two years, expected to commence in the second quarter of 2027 after mobilisation back to Norway from Australia.
"This agreement for seven rig years demonstrates the strength and resilience of Norway's high-specification harsh environment market and our strong relationship with Equinor," said Keelan Adamson, Transocean's CEO.
Photo: Vidar Dons Lindrupsen / Wikimedia Commons (CC BY-SA 2.0).
