Transocean has added $1.1 billion to its offshore drilling backlog with the final confirmation of its $1 billion contract with Equinor and a new $62 million contract with A/S Norske Shell in Norway.
Details of the Contract with A/S Norske Shell
The new contract with A/S Norske Shell involves drilling two wells using the Transocean Norge semi-submersible drilling rig. This drilling program will last for 120 days and will commence immediately after the completion of the rig's previous drilling programs in Norway. This $62 million contract is included in the backlog of firm contracts and includes an option for an additional well.
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Confirmation of the Contract with Equinor
Separately, Transocean received final confirmation of its previous contract with Equinor in late September, which includes three semi-submersible drilling rigs operating in harsh environments off the coast of Norway. This contract includes the Transocean Enabler, Transocean Encourage, and Transocean Endurance rigs. With the final confirmation of this contract, approximately $1 billion has been added to Transocean's firm contract backlog.
In total, the new contract with A/S Norske Shell and the confirmation of the contract with Equinor have added approximately $1.1 billion to Transocean's firm contract backlog, strengthening the company's drilling activities in the continental shelf of Norway. This increase in contracts reflects a sustained demand for drilling services in the region and could contribute to further growth and development of Transocean's activities.
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