Transocean has added approximately $1.1 billion to its firm offshore drilling backlog following final approval of a previously announced $1 billion agreement with Equinor and a new $62 million drilling contract with A/S Norske Shell offshore Norway.
The new Shell contract covers two wells using the Transocean Norge semisubmersible drilling rig. The program is expected to last approximately 120 days and will begin immediately following the rig’s previously awarded drilling programs in Norway.
The contract will contribute approximately $62 million in firm backlog, excluding additional services, and includes an option for one additional well.
Separately, Transocean received final approval in late September for its previously announced agreement with Equinor covering three harsh-environment semisubmersible rigs operating offshore Norway.
The agreement includes the Transocean Enabler, Transocean Encourage and Transocean Endurance. With final approval secured, the approximately $1 billion contract value has been converted into firm backlog.
Together, the Shell award and Equinor approval represent approximately $1.1 billion in additions to Transocean’s firm contract backlog, strengthening its contracted drilling activity on the Norwegian Continental Shelf.
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