Transocean Ltd. extends a $181 million contract for harsh environment semisubmersible

Transocean has been awarded an additional nine wells plus two, one-well options to the contract for the harsh environment of the semisubmersible Transocean Spitsbergen. The firm part of the contract extension is expected to begin in October 2023 and conclude in April 2025.

Equinor Energy AS has awarded Transocean Ltd. an additional nine wells plus two one-well options to the contract for the harsh environment semisubmersible Transocean Spitsbergen for work offshore Norway, Transocean Ltd. announced today. The firm portion of the contract extension is scheduled to begin in October 2023 and end in April 2025, with an estimated backlog of $181 million.

The estimated firm backlog does not include revenue from performance incentives, additional services, or contract option periods.

Transocean is a global leader in offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business, with a particular emphasis on deepwater and harsh environment drilling services, and claims to operate the world's highest specification floating offshore drilling fleet.

Transocean owns or has a stake in 37 mobile offshore drilling units, including 27 ultra-deepwater floaters and 10 harsh environment floaters, and operates them. Transocean is also building two ultra-deepwater drillships.

For more information on Transocean, go to www.deepwater.com.

Source: Transocean news