Swiss offshore drilling contractor Transocean has signed an agreement with Norwegian state-owned energy giant Equinor to deploy three of its semi-submersible drilling rigs on the Norwegian Continental Shelf (NCS). The deal is subject to regulatory approval.
Transocean highlighted that the base day rate is $399,000; excluding pre-commencement adjustment clauses, the actual day rate will exceed $400,000 upon the start of operations. The agreement represents a contract backlog of seven rig-years valued at over $1 billion, excluding additional services.
The contracts cover three “Category D” rigs designed specifically for Norwegian winter conditions and originally tailored for Equinor.
Specifically, the “Transocean Enabler” has secured a three-year contract expected to commence in the first quarter of 2028, directly following its current assignment.
The “Transocean Encourage” has been awarded a two-year contract expected to start in the first quarter of 2028, directly continuing the rig’s current operations.
The “Transocean Endurance” has secured a two-year contract scheduled to begin in the second quarter of 2027, following its relocation from Australia back to Norway.