Transocean lands seven-year, $1bn Equinor rig deal
Equinor extends three harsh-environment semisubs on the Norwegian Continental Shelf, adding more than $1bn in backlog for seven rig-years.
Transocean has secured a drilling agreement with Equinor worth more than $1bn in contract backlog, covering three harsh-environment semisubmersible rigs on the Norwegian Continental Shelf. The deal, which remains subject to licence approvals, spans seven rig-years across the Transocean Endurance, Transocean Enabler and Transocean Encourage.
The Endurance is due to start a two-year programme in the second quarter of 2027 after mobilising from Australia to Norway; the Enabler begins a three-year programme in the first quarter of 2028, while the Encourage starts a two-year campaign in direct continuation of its current work. The three Cat D semisubs were purpose-built for Equinor for year-round harsh-environment operations, with a base day rate of $399,000 expected to rise above $400,000 before operations begin.
"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 Transocean CEO Keelan Adamson.
