Transocean Ltd. announced this week that Equinor Energy AS has added an additional nine wells plus two, one-well options to the contract for the harsh environment semisubmersible Transocean Spitsbergen for work offshore Norway. The firm part of the contract extension, with an estimated backlog of $181 million, is expected to begin in October 2023 and conclude in April 2025.
The estimated firm backlog excludes revenue associated with performance incentives, additional services, and option periods provided for in the contract.
Transocean is an international provider of 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 focus on deepwater and harsh environment drilling services. The company says it operates the highest specification floating offshore drilling fleet in the world.
Transocean owns or has partial ownership interests in and operates a fleet of 37 mobile offshore drilling units, consisting of 27 ultradeepwater floaters and 10 harsh environment floaters. In addition, Transocean is currently constructing two ultradeepwater drillships — Deepwater Atlas and Deepwater Titan (near completion).