Transocean Lands $488M in Contracts for Five Offshore Drilling Rigs

OE Staff
Thursday, January 5, 2023

Offshore drilling company Transocean has secured contracts and extensions worth $488 million in total for five offshore drilling rigs.

In the U.S. Gulf of Mexico, the ultra-deepwater drillship Deepwater Invictus has won a 100-day, three-well contract with an unnamed independent operator. 

Transocean said the contract would add about $43 million to the rig's backlog. It is expected to start in direct continuation of the rig's current program.

In the UK North Sea, the harsh environment semi-submersible drilling rig Transocean Barents has won a one-well contract in the UK North Sea. Transocean said the contract, with an unnamed 'major operator', would be for 110 days, starting in the first quarter of 2023. The contract is worth $34 million.

Also, Harbour Energy has exercised the third option on its UK North Sea contract with Paul B. Loyd, Jr. harsh environment semi-submersible drilling rig, for eight P&A wells, adding an estimated $48 million in the backlog. The additional term is expected to last 275 days and extends the contract to the third quarter of 2024.

In Norway, Transocean said that certain previously disclosed options under the Transocean Norge semi-sub contract with Wintershall DEA and OMV have now been added to the backlog. The incremental term is expected to last 773 days and contribute an estimated $331 million to the backlog. Transocean said.

Further, the French oil major TotalEnergies exercised a one-well option on its contract for the Development Driller III ultra-deepwater semi-submersible for work in Suriname. The incremental well is expected to last 90 days and contribute an estimated $32 million in backlog, Transocean said.

Categories: Energy Drilling Industry News Caribbean Activity Europe North America Drilling Rigs

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